Big 5 Sporting Goods shares are trading lower after the company reported worse-than-expected Q2 revenue results. Additionally, Lake Street downgraded the stock from Buy to Hold and announced a $9.5 price target.
Portfolio Pulse from Benzinga Newsdesk
Big 5 Sporting Goods reported lower than expected Q2 revenue results, leading to a drop in its share price. Lake Street also downgraded the stock from Buy to Hold and set a price target of $9.5.
August 04, 2023 | 12:01 pm
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Big 5 Sporting Goods' Q2 revenue results were lower than expected, causing a drop in its share price. The stock was also downgraded by Lake Street from Buy to Hold with a price target of $9.5.
The lower than expected Q2 revenue results are a negative indicator of the company's performance, which can lead to a decrease in investor confidence and a drop in the share price. The downgrade by Lake Street further exacerbates this situation, indicating a less optimistic outlook for the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100