Purple Innovation price target lowered to $3 from $3.60 at BofA

BofA analyst Curtis Nagle lowered the firm’s price target on Purple Innovation to $3 from $3.60 and keeps an Underperform rating on the shares. The company preannounced 2022 results that were below Street expectations, the analyst tells investors in a research note. The firm views Purple’s fiscal 2023 revenue guidance as "ambitious" and sees continued earnings risk.

Published first on TheFly

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