RumbleON price target lowered to $3 from $4 at DA Davidson

DA Davidson analyst Michael Baker lowered the firm’s price target on RumbleON (RMBL) to $3 from $4 and keeps a Neutral rating on the shares. The company reported sales that were below consensus as the powersports space remains difficult, while profitability was also weaker due to deleverage from lower units, the analyst tells investors in a research note.