ODP Corporation price target lowered to $30 from $53 at UBS

UBS lowered the firm’s price target on ODP Corporation to $30 from $53 and keeps a Neutral rating on the shares. ODP’s Q2 results were below expectations, amid persisting macro headwinds and softness in both business and consumer spending, pressuring the company’s top-line and margins, the analyst tells investors in a research note. The external headwinds will most likely continue for the remainder of the year, and ODP is looking at a few avenues to drive growth and profitability despite this, the firm says, adding that the risk/reward looks balanced at current levels.