cbdMD price target lowered to $3 from $16 at Maxim

Maxim lowered the firm’s price target on cbdMD (YCBD) to $3 from $16 but keeps a Buy rating on the shares. The firm cites the company Q2 results missing its estimates on earnings and revenue along with its “significant share dilution”, the analyst tells investors in a research note. Maxim adds however that with improved marketing execution, a cleaner capital structure, and growing momentum across its diversified product portfolio, it believes that cbdMD is positioned to return to sales growth.