Leslie’s price target lowered to $3.75 from $7 at Jefferies

Jefferies lowered the firm’s price target on Leslie’s (LESL) to $3.75 from $7 and keeps a Hold rating on the shares. While “encouraged” by management’s initiatives to address market share losses and margin erosion, Leslie’s remains a “show-me story,” says the analyst, who needs to see consistent execution and a clearer turnaround trajectory before taking a more constructive view.