Splash Beverage price target lowered to $1 from $2.85 at Roth MKM

Roth MKM lowered the firm’s price target on Splash Beverage to $1 from $2.85 but keeps a Buy rating on the shares. Capital constraints weighed heavily on the company’s financial results in Q4 of 2023 and Q1, reducing both revenue and gross margin, but the firm expects an easing of this downward pressure starting in Q3, assuming the company is able to complete its current efforts to raise significant capital to fund operations, the analyst tells investors in a research note.