- Barclays analyst Adrienne Yih lowered the price target on Joann Inc JOAN to $9 from $10 and kept an Underweight rating on the shares, implying a 26.11% downside.
- The move comes after the company’s fourth-quarter net sales missed the consensus.
- Yih noted that excluding excess freight costs from gross margin show two very different outlooks on the earnings power and the margin performance of the business.
- Guggenheim analyst Steven Forbes downgraded the company to Neutral from Buy.
- Price Action: JOAN shares closed lower by 6.16% at $12.18 on Friday.
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