- Citi analyst Wendy Nicholson upgraded Solo Brands Inc (NYSE:DTC) to Buy from Neutral with a price target of $20, up from $17, implying a 24% upside.
- The analyst noted that the stock had pulled back about 30% since reaching its post-IPO high in mid-November.
- While the analyst still has concerns regarding the company’s sales and margins that were pulled forward by COVID, its risk-reward profile has “shifted” as valuation became “much less demanding.”
- Related Content: Solo Brands Stock Jumps After Raising FY21 Outlook
- Solo Brands is a Direct-To-Consumer (DTC) platform. It operates four premium outdoor lifestyle brands Solo Stove, Oru, ISLE, and Chubbies apparel.
- Price Action: DTC shares are trading higher by 3.94% at $16.36 on the last check Wednesday.
Why Coinbase Could Flush To New All-Time Low: A Technical Look
Coinbase Global, Inc (NASDAQ: COIN) was trading flat in the premarket after another bearish day on Monday, where the stock closed down 2.78% at $161.14, a fraction higher than the all-time low of $155.92.
