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.
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Read More on FGI:
- FGI Industries reports Q2 adjusted EPS 1c vs. 10c last year
- FGI Industries lowers 2023 revenue view to $120M-$130M from $145M-$163M
- FGI INDUSTRIES ANNOUNCES SECOND QUARTER 2023 RESULTS
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