Chardan Capital Markets Starts CaesarStone Sdot-Yam (CSTE) at Buy
Get Alerts CSTE Hot Sheet
Rating Summary:
4 Buy, 3 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
Join SI Premium – FREE
Chardan Capital Markets initiates coverage on CaesarStone Sdot-Yam (NASDAQ: CSTE) with a Buy rating and a price target of $44.00.
Analyst Lena Rogovin commented, "We initiate coverage on CSTE with $44 PT and BUY rating. The stock lost 44% in the past 12 months on investors' concerns of a slowdown in the US revenue growth, which is the largest market for the company - 45% of sales in 2015. However, even with a reduced sales guidance, we see a significant upside in the shares. As the number 2 player in a global quartz surfaces market, CSTE is well positioned to grow from increasing quartz usage for kitchen countertops, especially in the US and Canada. Australia, Canada and Israel account for 22%, 14% and 8% of CSTE sales, respectively."
The firm forecasts 10% CAGR organic revenue growth and 13% EBITDA growth for 2016-2018, with more than 60% of
incremental growth coming from the US market.
For an analyst ratings summary and ratings history on CaesarStone Sdot-Yam click here. For more ratings news on CaesarStone Sdot-Yam click here.
Shares of CaesarStone Sdot-Yam closed at $33.02 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- TD Cowen Starts Grindr (GRND) at Buy
- Safran SA (SAF:FP) (SAFRY) PT Raised to EUR211 at Citi, 'remain positive on the aftermarket'
- BofA Securities Upgrades Estee Lauder (EL) to Buy; 'Earnings have bottomed'
Create E-mail Alert Related Categories
Analyst Comments, Hot New Coverage, New CoverageRelated Entities
Chardan Capital MarketsSign 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!