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Barclays Downgrades Cricut To Underweight

Barclays analyst Adrienne Yih downgraded Cricut Inc (NASDAQ:CRCT) to Underweight from Equal Weight with an unchanged price target of $28, implying a 7%…
byAnusuya Lahiri
October 1, 2021
1 minute read
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  • Barclays analyst Adrienne Yih downgraded Cricut Inc (NASDAQ:CRCT) to Underweight from Equal Weight with an unchanged price target of $28, implying a 7% upside.
  • The analyst sees limited upside to Cricut in the near term given the “faster than anticipated attrition” in crafting activity as consumers gravitate towards experiences as reopening accelerates.
  • She is concerned that engagement may decline faster than anticipated as a full reopening has yet to occur.
  • Price Action: CRCT shares traded lower by 6.4% at $25.82 on the last check Friday.
 
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