Housewares Show Confirms Oppenheimer's Bullish View on SodaStream (SODA)

March 5, 2013 11:47 AM EST
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Price: $41.41 +0.78%

Rating Summary:
    2 Buy, 14 Hold, 0 Sell

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Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Oppenheimer reiterated its Outperform rating and $60 price target on SodaStream International (NASDAQ: SODA) Tuesday following the International Home + Housewares Show in Chicago.

"We came away from our recent meeting with SodaStream senior management at the International Home + Housewares Show in Chicago with increased confidence and visibility into the company's growth strategy for 2013, and so we are reiterating our Outperform rating on the shares, as well as our $60 DCF-derived target price," analyst Joseph Altobello said.

The analyst was positive on the Source machine as in addition to distribution in Bed, Bath & Beyond and Macy's it gained additional distribution, with Wal-Mart testing a version in nearly 1,700 doors.

On SodaCaps, the firm said this should further reduce the time needed to make soda, while improving ease of use and flavor consistency. Launch is expected in 3Q, though SODA has been testing the product in Israel since September.

They also note the company has made great prioress in third-party partnerships, including the recently announced Samsung refrigerator.

For an analyst ratings summary and ratings history on SodaStream International click here. For more ratings news on SodaStream International click here.

Shares of SodaStream International closed at $48.03 yesterday.

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