Monro price target lowered to $28 from $35 at Wells Fargo

Wells Fargo analyst David Lantz lowered the firm’s price target on Monro to $28 from $35 and keeps an Equal Weight rating on the shares. The firm notes Monro’s underperformance is steep, and it sees risk into Q2 with mixed checks, ongoing share losses and FY24/25 Street EPS that appears optimistic. That said, Wells likes the self-help story and sees improvement potential in time.