Advantage Solutions price target lowered to $2.50 from $3.50 at Canaccord

Canaccord analyst Joseph Vafi lowered the firm’s price target on Advantage Solutions (ADV) to $2.50 from $3.50 and keeps a Buy rating on the shares. The firm said its Q1 results reflected what was a tough macro quarter in CPG and grocery retail, combined with some company-specific items to better position the company operationally moving forward. Despite its top-line weakness, the company continues to move forward with its transformation activities in order to achieve better profitability exiting this year.

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