- (PLX AI) - Boozt falls almost 4% after Nordea cut the stock to hold from buy, and 2 other brokers cut their price targets.
- • Boozt will have to invest more to maintain high growth during 2021-23, and the share is unlikely to outperform in current market conditions, Nordea said
- • Boozt already fell 6% on earnings day Friday after profit margins came in below expectations amid higher investment costs
- • The market is very competitive, so increased investments in automation, price and marketing are needed as Boozt aims to further distance itself from the competition, Danske said, cutting its price target to SEK 225 from SEK 240
- • Carnegie also cut its price target to SEK 225 from SEK 235 on expectations of stronger sales but lower margins