11:35 ET - Lifetime Brands has material exposure to outsourced production in China but has been taking steps to diversify away from the country, says D.A. Davidson's Linda Bolton Weiser in a research note. The kitchenware and tableware products maker began moving production out of China about 18 months ago and plans to have less than 75% of its products made outside of China by 3Q, says the analyst. Lifetime, which has been ramping up capacity at its manufacturing facility in Mexico, has moved and is in the process of moving production to a variety of countries including Malaysia, Cambodia and India. The analyst lowers their rating to neutral from buy and their price target to $6.75 from $11.50 in part due to the announced tariffs. Shares dive 7% to $6.03. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
February 03, 2025 11:36 ET (16:36 GMT)
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