Big 5 Sporting Goods (BGFV) Surges as Deutsche Bank Says 'Buy'

October 6, 2016 9:42 AM EDT
Get Alerts BGFV Hot Sheet
Price: $16.00 --0%

Rating Summary:
    4 Buy, 5 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Big 5 Sporting Goods (NASDAQ: BGFV) is seeing a strong response to today's upgrade to Buy at Deutsche Bank. Shares are up 12.2% to $15.59.

In the upgrade report, Deutsche Bank's Mike Baker cited: 1) accelerating sales trends driven by market share gains after competitor liquidations; 2) profitability improvements from better merchandise margins and leverage on stronger sales; 3) higher earnings power from sales and profit increases that we do not yet believe are fully reflected in BGFV’s valuation.

The firm set a $16.50 price target on BGFV.

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