Benchmark Positive on Smith & Wesson (SWHC) and Sturm, Ruger (RGR); June Adjusted NICS Up 24.5%

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Benchmark maintains a 'Buy' on Smith & Wesson Holding (NASDAQ: SWHC) price target of $11.00 (from $9.00)

Analyst, Mike Greene, said, "Adjusted FBI background checks continue strong 2012 growth, up 24.5% in June...Continued strong growth throughout the country once again...We reiterate our view that success for SWHC does not need to come at the expense of RGR."

"Our thesis for both Smith & Wesson and Sturm, Ruger (NYSE: RGR)(BUY, $60PT) is that, while we are currently seeing some “political buying,” the firearms market is also seeing secular growth due to an increasing social acceptance of firearms for both recreation/leisure and for personal defense. We believe continued strength throughout the country, not just in the typically strong Southern states, supports this thesis."

For an analyst ratings summary and ratings history on Smith & Wesson Holding click here. For more ratings news on Smith & Wesson Holding click here.

Shares of Smith & Wesson Holding closed at $8.85 yesterday, with a 52 week range of $2.29-$9.12.

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