FGI Industries price target lowered to $4 from $5 at Benchmark

Benchmark lowered the firm’s price target on FGI Industries to $4 from $5 and keeps a Speculative Buy rating on the shares. FGI last week highlighted roughly in-line topline results, while a continued focus on execution and cost controls contributed to margins and earnings nicely ahead of expectations, and Benchmark continues to like the long-term strategy despite the lowered guidance for FY23, the analyst tells investors in a research note.