Imperial Capital Starts Johnson Outdoors (JOUT) at Outperform
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Imperial Capital initiates coverage on Johnson Outdoors (NASDAQ: JOUT) with a Outperform rating and a price target of $40.00, suggesting 38% upside.
Analyst George Kelly commented, "We believe Johnson Outdoors is undervalued given its financial profile (revenue growth, strong free cash flow, underleveraged balance sheet) and portfolio of brands (especially Minn Kota). With a costly legal battle and other one-time issues behind the company, we believe results should become “cleaner” and more straightforward, and shine a spotlight on JOUT’s core profitability. As added potential upside, we see value if the company were to restructure or prioritize its key business units."
Shares of Johnson Outdoors closed at $29.09 yesterday.
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