GrabAGun Digital price target lowered to $6.75 from $8.25 at Roth Capital

Roth Capital analyst Matt Koranda lowered the firm’s price target on GrabAGun Digital (PEW) to $6.75 from $8.25 but keeps a Buy rating on the shares. The company’s GrabAGun Q3 sales substantially beat the industry, likely benefiting from a higher profile as a public company and a highly-visible Board, the analyst tells investors in a research note. Roth adds however that while it is boosting its FY226 sales forecast to $100.5M from $97.3M, it is resetting the EBITDA lower to factor in a more robust operating expenditure re-investment phase ahead.