Vista Outdoor price target lowered to $25 from $29 at Roth MKM

Roth MKM lowered the firm’s price target on Vista Outdoor to $25 from $29 and keeps a Neutral rating on the shares. The analyst cites the company’s FY24 guidance cut as part of its announcement to sell its sporting products business to CSG for $1.91B in cash. The outlook revision also suggests the remaining stand-alone public entity is likely going to take a few years to show normalized margins, even though the silver lining for bulls is that near-term lowered guidance looks more doable, the firm tells investors in a research note.