Jefferies Remains Bullish on Vista Outdoor (VSTO) as Shares Trade Down
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Jefferies reiterated a Buy rating and $54.00 price target on Vista Outdoor (NYSE: VSTO) following a recent trade down in company shares. VSTO shares are down 26% since Q1 results. Jefferies believes that the underperformance was more indicative of unusual unfavorable market conditions rather than a signal that sales would continue on a downward trajectory.
Analyst Greg Konrad, commented, "We believe that VSTO's recent share price underperformance is disconnected from the financial prospects of the business. Although Q1 results were disappointing, we expect Q2 to show a modest improvement with a more pronounced recovery in the second half of FY17. Our FY17 and FY18 EPS estimates are unchanged at $2.75 and $3.20, respectively."
Shares of Vista Outdoor closed at $37.90 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- IBM (IBM): Closer Look Shows The - Jefferies
- Skyworks Solutions (SWKS) PT Raised to $105 at Oppenheimer Following 1Q Report
- Union Pacific (UNP) PT Raised to $102 at Stifel Following 4Q Report
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!