Signa Sports United ( NYSE: SSU ) was cut to Hold from a prior Buy rating at Jefferies on Monday.
“We see an uncertain path forward for SSU amid macro challenges and category-specific softness stemming from the COVID unwind,” equity analyst Randal Konik wrote in a note to clients. “Earnings revisions have skewed materially negative over the past year, shaking our confidence in go-forward targets.”
As such, he reduced his rating to Hold from Buy and trimmed his price target to $4 from a prior $8. Konik advised that he will likely remain on the sidelines “until evidence of positive earnings momentum materializes.”
Shares of the Berlin-based online sports shop slid 1.67% on Monday.
Read more on the company’s recent earnings result .
For further details see:
Signa Sports cut to Hold on ‘category-specific softness’