Wedbush Starts Columbia Sportswear (COLM) at Outperform
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Wedbush initiates coverage on Columbia Sportswear (NASDAQ: COLM) with a Outperform rating and a price target of $67.00.
Analyst Christopher Svezia commented, " We are initiating coverage of Columbia Sportswear (COLM) with an OUTPERFORM rating and $67 PT or 23x P/E. COLM has several growth levers throughout the company that we believe are yet to be fully tapped, including its core Columbia brand. Growth platforms include prAna, SOREL, Mountain Hardware (2018E), and regional opportunities in Europe and China. The company is also outperforming much of the peer group and is in a position to gain market share while leveraging recent SAP investments across the organization. In all, we believe the company can grow sales ~HSD and EPS ~13-15% over time while supporting a strong balance sheet and capital return."
Shares of Columbia Sportswear closed at $55.96 yesterday.
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