Lake Street lowered the firm’s price target on Sportsman’s Warehouse to $5 from $6 and keeps a Buy rating on the shares after the company reported fiscal Q1 results that were below expectations and reiterated guidance for FY24. The firm has lowered its own FY24 revenue estimates due to the difficult consumer environment, cutting its FY24 same-store sales estimate to (9.4%) from (5.6%) and lowering its adjusted EBITDA estimate to $45.1M from $52.9M.
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