UPDATE: Goldman Sachs Adds Columbia Sportswear (COLM) to Conviction Buy List

October 7, 2016 6:37 AM EDT
Get Alerts COLM Hot Sheet
Price: $55.38 +0.40%

Rating Summary:
    12 Buy, 13 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade COLM Now!
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

(Updated - October 7, 2016 8:50 AM EDT)

Goldman Sachs upgraded Columbia Sportswear (NASDAQ: COLM) from Buy to Conviction Buy with a price target of $71, implying upside of 25%. Analyst Lindsay Drucker Mann sees a compelling set up given easy weather comparisons.

"We add Buy-rated COLM to the Americas Conviction List with idiosyncratic drivers to sales and margins, despite a choppy retail macro. We believe COLM’s near-term investment case is de-risked given conservative 2H guidance for sales/margins and multiple compression. We see COLM as well-positioned into 2H (>85% of full year EBIT) against easy comparisons from last year’s warm winter. Past FY16, we continue to expect COLM to drive low-teens EBIT growth from continued market share gains and steady margin expansion; EBIT margins were 10.6% in FY15 versus peers in the mid-teens and COLM’s own peak of 20%" said Drucker Mann.

For an analyst ratings summary and ratings history on Columbia Sportswear click here. For more ratings news on Columbia Sportswear click here.

Shares of Columbia Sportswear closed at $56.68 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View, Hot Comments, Hot Upgrades, Upgrades

Related Entities

Goldman Sachs Conviction Buy List, Goldman Sachs

Add Your Comment