Traeger price target lowered to $2.50 from $3.75 at Piper Sandler

Piper Sandler analyst Peter Keith lowered the firm’s price target on Traeger (COOK) to $2.50 from $3.75 and keeps a Neutral rating on the shares following Q4 results that posted upside to consensus estimates. The company’s management has done a commendable job managing through a difficult backdrop in recent years, while preserving brand strength and reducing debt leverage, the firm says. Regarding the change to price target Piper notes it is pushing out to 2026 and reducing its multiple assumption from 10-turns to 8-turns given economic uncertainty.