Trupanion price target lowered to $89 from $109 at BofA

BofA analyst Joshua Shanker lowered the firm’s price target on Trupanion to $89 from $109 and keeps a Buy rating on the shares as the firm reduced the multiple on subscription pets to reflect the greater risk due to the personnel transition after the company announced early on March 23, that CFO Drew Wolff, EVP Tricia Plouf and EVP Gavin Friedman will be departing the company. Management’s explanation for the departures was largely "straightforward," but investors might still have questions and the departures drive near-term uncertainty, the firm said.