Telsey Advisory Group downgrades Brilliant Earth Group to 'market perform'

Brilliant Earth

19/12/2024 17:30

** Brokerage Telsey Advisory Group downgrades jewelry co
Brilliant Earth Group  BRLT.O  to "market perform" from
"outperform"
    ** Downgrades BLRT on past year's choppy performance, and as
engagements category remains promotional and highly competitive;
cuts PT to $2 from $3
    ** Says engagements category normalization remains gradual,
with muted expectations for quick rebound as a younger customer
base faces inflationary pressures in an uncertain macro
environment
    ** Two of six brokerages rate the stock "buy" or higher, and
four "hold", with a median PT of $3
    ** Including session moves, stock has fallen ~47% YTD

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com))