KeyBanc Upgrades Vista Outdoor (VSTO) to Overweight
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KeyBanc upgraded Vista Outdoor (NYSE: VSTO) from Sector Weight to Overweight with a price target of $48. Analyst Scott W. Scott W. Hamann sees an attractive entry point.
"... we view a vast majority of the issues that plagued the Company in F1Q17 as transitory and maintain a shift in wallet share toward firearms accessories should occur in the coming quarters and the hangover from Sports Authority/Sports Chalet liquidations will likely be a F1H17 event. All in, while we maintain F2Q17 results could be messy and result in a lowered guidance, we believe that the current valuation largely prices in a potential guidance cut and we view current levels as having a favorable risk/ reward dynamic," said Hamann.
Shares of Vista Outdoor closed at $39.38 yesterday.
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