Goldman Sachs analyst Christopher Prykull downgraded Party City to Neutral from Buy with a price target of $2.50, down from $7. The company's Q3 results illustrated that Halloween sales tailwinds failed to materialize, while helium headwinds persisted across sales and gross margin, Prykull tells investors in a research note. He says core Party City's fundamentals are eroding quicker than he anticipated. The analyst sees a "challenging path forward" for the company with limited visibility and a lack of a near-term catalysts for the shares other than valuation.