From Financial Modeling Prep: 2024-12-19 09:18:00

Telsey analysts downgraded Brilliant Earth Group (NASDAQ:BRLT) from Outperform to Market Perform, with a lowered price target of $2.00 from $3.00. This reflects ongoing struggles in the engagement jewelry segment and broader market challenges.

Despite a strong brand presence, Brilliant Earth has faced inconsistent performance due to a competitive jewelry market. The critical engagement segment has experienced slower-than-expected normalization, hindering hopes for a quick recovery.

Younger consumers, crucial for engagement purchases, are dealing with inflation and economic uncertainty, delaying a demand rebound. With market corrections and limited visibility into category improvement, the downgrade signals caution for Brilliant Earth’s near-term outlook.



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