Katapult price target lowered to $9 from $10 at Stephens

Stephens lowered the firm’s price target on Katapult (KPLT) to $9 from $10 and keeps an Equal Weight rating on the shares. While noting that Q1 results and Q2 guidance reflect accelerating volume growth, the firm lowered its FY26 adjusted EBITDA estimate and voices uncertainty around the company’s ability to refinance its $113M debt by June 4.