Smith & Wesson Brands price target lowered to $13.50 from $22 at Lake Street

Lake Street analyst Mark Smith lowered the firm’s price target on Smith & Wesson Brands to $13.50 from $22 and keeps a Buy rating on the shares after the company reported Q2 results that were below expectations. He is lowering his estimates "significantly" and resetting his model to what he thinks is "a normal new level of unit sales," said Smith, who thinks management may get more aggressive with discounting and promotions, but "not enough to drive significant sales volumes."