Blue Apron (APRN) PT Lowered to $11 at Canaccord Genuity
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Price: $12.99 --0%
Rating Summary:
3 Buy, 14 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 18 | Down: 12 | New: 24
Rating Summary:
3 Buy, 14 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 18 | Down: 12 | New: 24
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Canaccord Genuity lowered its price target on Blue Apron (NYSE: APRN) to $11.00 (from $14.00) while maintaining a Buy rating. Blue Apron reported its first quarter as a public company with mixed customer metrics but slight beats on revenue and EBITDA vs. consensus.
The company lost 93k customers sequentially due to a cascade of effects from a delay in scaling volume at its new Linden, NJ fulfillment center. Analyst Michael Graham views this development as decidedly temporary, and is encouraged by the better customer engagement metrics.
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