Tilly’s price target lowered to $2 from $2.50 at B. Riley

B. Riley lowered the firm’s price target on Tilly’s (TLYS) to $2 from $2.50 and keeps a Neutral rating on the shares. Tilly’s Q1 sales, gross margin, and EBITDA were all below consensus estimates, the analyst tells investors in a research note. Comparisons are relatively easy versus a multi-year negative stack, but structural elements and ongoing macro headwinds prolong the impact of potential traction with merchandising and planning and allocation turnaround initiatives, the firm says.