MarketWise price target lowered to $2 from $3.50 at UBS

UBS analyst Alex Kramm lowered the firm’s price target on MarketWise to $2 from $3.50 and keeps a Neutral rating on the shares. UBS remains on the sidelines on MarketWise given increased uncertainty, and while the company has done a solid job on driving increased profitability, billings and paid subscribers have continued to decline, and given significant headcount reductions and the wind-down of the Legacy Research Group, the firm has less confidence in the outlook, the analyst tells investors in a research note.