- Analysts lowered their price targets on Weber Inc (NYSE:WEBR) following its Q1 results.
- JPMorgan analyst Megan Alexander downgraded Weber to Neutral from Overweight with a price target of $9.50, down from $13, implying an 8% downside.
- The analyst sees high sales uncertainty ahead with risk in the second half of 2022 on price elasticity and do-it-yourself "normalization."
- Megan said Weber's toughest compares are ahead while its updated "back-half weighted" guidance embeds an acceleration in units on a two-year basis in Q3 with potential risk on elasticity given record consumer inflation.
- The analyst added that the housing backdrop is becoming less supportive given rising interest rates.
- Related: Weber Stock Slides After Q1 Results Hit By Supply Chain Challenges, Cost Inflation
- BMO Capital analyst Simeon Siegel lowered the price target to $13 from $16 and kept a Market Perform rating on the shares after its Q1 earnings miss.
- The analyst noted company showed impressive two-year revenue growth, but margins remain hampered by macro supply chain challenges plaguing the group.
- Citigroup analyst Wendy Nicholson lowered the price target to $12 from $14 (16% upside) and kept a Neutral rating on the shares.
- Price Action: WEBR shares are trading lower by 2.69% at $10.32 on the last check Tuesday.
