Zevia price target lowered to $3 from $4 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Zevia (ZVIA) to $3 from $4 and keeps a Market Perform rating on the shares. The company’s Q4 results were generally in-line with its preannouncement, but its Q1 guidance missed expectations, the analyst tells investors. The firm believes the company is taking steps in the right direction, but is waiting to see gains from these initiatives and stabilization of sales before regaining confidence in the story.