Solo Brands price target lowered to $3 from $4 at Citi

Citi analyst Chasen Bender lowered the firm’s price target on Solo Brands to $3 from $4 and keeps a Neutral rating on the shares. The analyst thinks the company’s outlook for 2024 appears challenging. The firm expects “greater-for-longer” cannibalization from Solo’s omnichannel expansion strategy with limited visibility into when direct-to-consumer channel sales will improve.