Smith & Wesson (SWHC): Beat May Be In The Price, Next Catalyst May Be Negative - Wedbush
- Wall Street again marks new highs in post-election run
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- After-Hours Stock Movers 12/08: (FNSR) (AVGO) (GLPG) Higher; (XTLY) (RH) (DLTH) Lower (more...)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Wedbush analyst, James Hardiman, reiterated his Neutral rating on shares of Smith & Wesson Holding (NASDAQ: SWHC) but raised his price target to $29 from $23 after checks indicate the company will beat and raise its outlook when earnings is reported next week.
Given strong industry trends and continued share gains over the past few months, the analyst believes that SWHC is well positioned to beat and raise when the company reports next week. However, considering the current valuation, upside is limited in the near-term and late this year there should be a marked decline in background checks as we lap last year’s surge. Therefore, while we are raising our price target to reflect an elevated level of both fear and gun control rhetoric, the easy money has been made, and that investors should be cautious of a retrenchment in back-half fundamentals.
Shares of Smith & Wesson Holding closed at $29.25 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Downgrades Timken (TKR) to Hold
- MKM Partners Raises Price Target on Ollie's Bargain Outlet (OLLI) Following 3Q
- Stifel Reiterates Buy on Selecta Biosciences (SELB) Following Phase l Data Release
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Analyst PT Change
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!