Fox Factory price target lowered to $38 from $45 at Baird

Baird lowered the firm’s price target on Fox Factory (FOXF) to $38 from $45 and keeps a Neutral rating on the shares. The firm said they missed consensus expectations and lowered guidance, noting production cuts by key OEM partners tied to “reductions in discretionary spending an uncertain macro-economic outlook, high interest rates, the fatigue from inflation and the upcoming elections.”