Upexi downgraded to Neutral from Buy at Alliance Global Partners

Alliance Global Partners downgraded Upexi to Neutral from Buy with a price target of $1.25, down from $3. The company reported fiscal Q2 sales and EBITDA below estimates, as sales within the re-commerce business lagged, the analyst tells investors in a research note. The firm sees promise in some of Upexi’s brands, but says uncertainty around the re-commerce business, coupled with the company’s balance sheet moves it to the sidelines for now.