Wedbush analyst James Hardiman reiterated a Neutral rating and $25 price target on Smith & Wesson Holding (NASDAQ: SWHC) following Q2 results while the outlook moderates following election.

Hardiman commented, "While management pointed out that its growth expectations for a normalized firearm environment are unchanged following the election, and that the dynamics of the firearm industry are dramatically and permanently changed from the pre-Obama era, investors will likely equate the weaker implied 2H guide to a lower overall level of demand. This is especially the case given a strong month of NICS checks in November (post 2Q). However, while there is clearly some truth to this notion, we believe the benefit from regulatory fears is overstated by some, as is the magnitude of the correction from here."

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Shares of Smith & Wesson Holding closed at $23.98 yesterday.