Craig-Hallum analyst Steve Dyer lowered his price target for American Outdoor Brands to $10 from $13 and keeps a Hold rating on the name. The analyst, however, thinks the shares are "extremely cheap" and believes any incremental improvements in firearm demand could present upside to Q2 guidance. Nonetheless, his Hold rating reflects limited visibility, the "challenging" firearm environment, and his belief the company's profitability is pressured from elevated costs. Dyer awaits stabilization in firearm sales before getting more constructive on American Outdoor Brands.