Traeger price target lowered to $3 from $4 at B. Riley

B. Riley analyst Anna Glaessgen lowered the firm’s price target on Traeger (COOK) to $3 from $4 and keeps a Buy rating on the shares. The company reported a solid Q1, including another strong quarter of double-digit growth in Grills, but the most important point on the call was that the tariff impact is less severe than previously anticipated, the analyst tells investors in a research note. The firm says Traeger’s grills sourced from China are reportedly subject to 45% tariffs as reciprocal tariffs are not stacked on top of Section 232 in certain cases.