Canaccord analyst Joseph Vafi lowered the firm’s price target on Advantage Solutions (ADV) to $2.50 from $3.50 and keeps a Buy rating on the shares. The firm said its Q1 results reflected what was a tough macro quarter in CPG and grocery retail, combined with some company-specific items to better position the company operationally moving forward. Despite its top-line weakness, the company continues to move forward with its transformation activities in order to achieve better profitability exiting this year.
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Read More on ADV:
- Advantage Solutions Faces Challenges Amid Transformation Efforts
- Advantage Solutions’ Earnings Call: Mixed Sentiment Amid Challenges
- Advantage Solutions reports Q1 adjusted EBITDA $58.2M vs. $70.6M last year
- Is ADV a Buy, Before Earnings?
- Advantage Solutions: Buy Rating Amid Operational Optimization and Strategic Growth Opportunities
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