Build-A-Bear shares jump after record plunge
BUZZ-Build-A-Bear shares jump after record plunge ** Build-A-Bear Workshop BBW.N shares rising 5.5% to $29.99 on Fri, rebounding after plunging 27% on Thurs for its biggest daily drop ever on a reduced rev outlook
** Late Thurs, analysts at brokerage D.A. Davidson cut their PT on the stock to $37 from $60, saying the change is based on "a more conservative 9.5x multiple against our 2027 EPS forecast."
** "This was Christopher Hurt’s first report as CEO, taking over on June 11th after more than 11 years building an operational track record as COO. The subsequent stock reaction indicates, in our view, that Hurt will have to prove himself to the street as the CEO," they write, noting that they are maintaining a "buy" rating on the stock.
** Median analyst 12-mo price target is $52.50, implying 76% upside from its current price
** The co early on Thurs lowered its rev outlook to $500 mln-$525 mln and said it was unable to renew its partnership with Walmart WMT.O
** Even with the session gains, the stock is down about 51% YTD, compared to a 12.5% rise in the S&P 500 .SPX
(Reporting by Caroline Valetkevitch )
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