Analyst Cuts Playboy Parent's Price Target As Inflation Woes Hit Earnings

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  • Chardan Capital analyst Brian Dobson reiterated a Buy rating on PLBY Group Inc PLBY and lowered the price target to $9 from $13 (56% upside).
  • The analyst said PLBY reported worse-than-expects Q2 earnings, missing the estimate, and suspended its 2022 guidance.
  • PLBY reported a quarterly net loss of $(8.3) million, or $(0.18) per share, which missed the estimate for a loss of $(0.12) per share.
  • Dobson said the disappointing results stem from inflationary pressures and intensifying competition impacting items sold via Lovers and Yandy.
  • Nevertheless, the analyst feels PLBY will retain its appeal due to its iconic brand, clothier Honey Birdette and NSFW social media platform, CENTERFOLD.
  • Price Action: PLBY shares are trading lower by 17.48% at $5.76 on the last check Wednesday.
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Posted In: Analyst ColorNewsPrice TargetReiterationAnalyst RatingsMoversTrading IdeasGeneralBriefs
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