Acco Brands price target lowered to $6 from $7 at Barrington

Barrington lowered the firm’s price target on Acco Brands (ACCO) to $6 from $7 and keeps an Outperform rating on the shares. The first quarter is Acco’s seasonally smallest period for revenue and profit generation. The firm notes Q1/25 sales declined -11.6% year-over-year on a reported basis to $317.4M. On a constant-currency basis, sales were down -8% year-over-year, at the low end of the company’s forecast for a constant-currency sales decline in the range of -5% to -8% year-over-year. Sales continued to be impacted by a generally soft demand environment as spending by both businesses and consumers remained constrained due to heightened macroeconomic uncertainty, adds Barrington.