- Barclays analyst Adrienne Yih downgraded Cricut Inc CRCT to Underweight from Equal Weight with an unchanged price target of $28, implying a 7% upside.
- The analyst sees limited upside to Cricut in the near term given the "faster than anticipated attrition" in crafting activity as consumers gravitate towards experiences as reopening accelerates.
- She is concerned that engagement may decline faster than anticipated as a full reopening has yet to occur.
- Price Action: CRCT shares traded lower by 6.4% at $25.82 on the last check Friday.
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