Sunlight Financial price target lowered to $1 from $3.25 at TD Cowen

TD Cowen analyst Jeffrey Osborne lowered the firm’s price target on Sunlight Financial to $1 from $3.25 and keeps an Outperform rating on the shares. The analyst noted they announced a plan to strengthen its financials amid the SVB fallout with which the company had a credit facility. Additionally the company completed a headcount reduction and plans to release 4Q22 and FY22 results in the first half of April after multiple delays.