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Fly News Breaks for August 3, 2018
APRN
Aug 3, 2018 | 07:25 EDT
Canaccord analyst Michael Graham noted Blue Apron reported mixed Q2 results and said the guidance suggests the revenue impact from the "transition" year will get worse in Q3 and Q4 before it gets better. Despite that, he sees reasons to be optimistic heading into 2019, including a likely return to intensive marketing and upside from nascent multi-channel offerings. Graham maintained his Buy rating and lowered his price target to $6 from $8 on Blue Apron shares.
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