Avantax price target lowered to $27 from $29 at Cantor Fitzgerald

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.