Alliance Global lowered the firm’s price target on Turning Point Brands (TPB) to $130 from $135 and keeps a Buy rating on the shares. The firm lowered estimates ahead of Q1 earnings to account for expected softness in the company’s legacy businesses and investments behind the nicotine pouch category weighing on profits, the analyst tells investors in a preview.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TPB:
- TKO Group enters partnership with FRE Nicotine Pouches
- Turning Point Brands management to meet with Craig-Hallum
- Turning Point Brands Bets Big on Modern Oral Growth
- Balancing Solid Revenue Growth With Margin Pressure and Earnings Uncertainty: Rationale Behind the Hold Rating
- Turning Point price target raised to $135 from $110 at Alliance Global