Xpel price target lowered to $74 from $97 at B. Riley

B. Riley analyst Jeff Van Sinderen lowered the firm’s price target on Xpel to $74 from $97 and keeps a Buy rating on the shares post the “light” Q3. The company’s U.S. growth continued to decelerate with customers noting that business was consistent, but overall below that of Q3 of 2022, the analyst tells investors in a research note. The firm is increasingly concerned by the potential near-term forces of the slowing broader macro backdrop.