Champion Homes price target lowered to $72 from $97 at Barclays

Barclays analyst Matthew Bouley lowered the firm’s price target on Champion Homes (SKY) to $72 from $97 and keeps an Equal Weight rating on the shares. The firm says an incrementally challenged demand backdrop suggests lower margins in the near term for Champion. It sees limited visibility on the return to the company’s 26%-27% long-term gross margin framework as utilization softens, consumers mix to smaller homes, and input costs move higher.