Xcel Brands price target lowered to $12 from $15 at Noble Capital

Noble Capital lowered the firm’s price target on Xcel Brands (XELB) to $12 from $15 and keeps an Outperform rating on the shares following Q1 results that represent “a modest improvement from Q4,” but also “a slow start to the year.” While the firm’s 2025 revenue and adjusted EBITDA revisions “reflect dampened expectations for the year,” it notes that its 2026 forecast is reflective of the company’s new brands coming online.