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

Reuters2024-12-19

** 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))

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