Solo Brands price target lowered to $3 from $5 at Canaccord

Canaccord lowered the firm’s price target on Solo Brands to $3 from $5 and keeps a Buy rating on the shares. The firm said Q2 was better but the lower guidance on July weakness and stock move suggests the market has lost confidence. Canaccord believes the Solo Stove and Chubbies brands are collectively worth significantly more to a potential acquirer or in the public market than the market is currently valuing the company.