Ethan Allen price target lowered to $27 from $28 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Ethan Allen (ETD) to $27 from $28 and keeps a Market Perform rating on the shares post the fiscal Q2 report. The company’s sales and written orders were lower than expected, the analyst tells investors in a research note. The firm views the quarter as mixed, saying that while Ethan Allen is controlling promotions and managing gross margin well, it continues to experience declines in traffic to its design centers and pressures in its contract business.