Lifetime Brands price target lowered to $5 from $6 at Canaccord

Canaccord lowered the firm’s price target on Lifetime Brands (LCUT) to $5 from $6 and keeps a Buy rating on the shares. The firm said they reported underwhelming Q1 results. Top line performance was impacted by challenges in the mass channel and ordering patterns softening due to tariff concerns. However, the company posted strong gains in e-commerce and the dollar and club channels driven by new product introductions and solid POS sell through.