Solo Brands price target lowered to $2.40 from $4 at B. Riley

B. Riley lowered the firm’s price target on Solo Brands to $2.40 from $4 and keeps a Neutral rating on the shares. Solo’s Q4 results were in line with the preannounced range, and while 2024 guidance hit the Street’s $500M sales estimate on the high end, it missed on EBITDA on elevated SG&A investments, the analyst tells investors in a research note.