OWLT Should I Buy

TD Cowen analyst Jonna Kim lowered the firm's price target on Owlet to $10 from $13 and keeps a Buy rating on the shares. The firm said Owlet remains an underappreciated story and current valuation discounts the brand's competitive moat and growth prospects. They believe the recent guidance reset provides room for upside, and fundamental growth rooted in increasing customer adoption through improved hardware and subscription features should underpin better stock performance.