Telsey Advisory Thinks This Recently Listed Consumer Products Company Is Taking Right Steps

Telsey Advisory Group analyst Dana Telsey has reiterated Outperform rating on Grove Collaborative Holdings Inc GROV shares, with a price target of $10.00.
Last week, Telsey attended GROV’s Virtual Analyst Day, in which the company outlined its long-term strategy following its June 17 listing on the NYSE.
Grove reiterated its 2024 revenue and adjusted EBITDA margin targets that were unveiled with its 1Q22 results.
The analyst believes the company is taking the right steps by optimizing its product and channel mix, expanding into retail, and right-sizing marketing and operating expenses.
With a clear omni-channel distribution strategy driving brand awareness and sales, the analyst thinks Grove can disrupt the market and do so profitably as consumers shift away from single-use plastics.
Price Action: GROV shares are trading lower by 3.37% at $6.65 on the last check Monday.