Kirkland’s price target lowered to $2 from $2.50 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Kirkland’s to $2 from $2.50 and keeps a Hold rating on the shares. Kirkland’s delivered solid Q2 results, with slight upside on sales and a larger beat on adjusted EBITDA driven by disciplined spending and cost savings initiatives, the analyst tells investors in a research note. While the firm believes management is making positive strides and applaud the cost savings initiatives which should help a return to EBITDA profitability, it remains cautious on the story given the constrictive balance sheet and challenging macro backdrop.