Cantor Fitzgerald analyst Josh Siegler lowered the firm’s price target on Avantax to $27 from $29 and keeps an Overweight rating on the shares. Avantax reported Q2 earnings, and while the company’s fundamental KPIs remained strong, the stock sold off on a disappointing outlook tied primarily to a recent hedging initiative and a lower cash sweep outlook, the analyst tells investors in a research note.
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Read More on AVTA:
- Avantax price target lowered to $30 from $32.50 at Barrington
- Avantax reports Q2 non-GAAP EPS 36c
- Avantax sees 2023 EPS non-GAAP EPS $1.22-$1.30
- Avantax to Announce Second Quarter 2023 Financial Results Wednesday, August 9, 2023
- Activist target Avantax exploring possible sale, Bloomberg says
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