Grove Collaborative price target lowered to $2 from $3 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Grove Collaborative to $2 from $3 and keeps an Outperform rating on the shares. The company reported another “solid” quarter in terms of profitability and adjusted EBITDA results were “better than expected,” the analyst tells investors. The firm continues to believe the company has the ability to disrupt the market profitability in the long-term as consumers shift away from single-use plastics.