Helen of Troy (HELE) PT Raised to $184 at DA Davidson

DA Davidson analyst Linda Bolton Weiser raised the price target on Helen of Troy (NASDAQ: HELE) to $184.00 (from $172.00) while maintaining a Buy rating.

The analyst commented, "We are optimistic heading into the F2Q20 report before the market open on October 8th. Our operating profit of $58M exceeds consensus of $54M, and IRI data indicate our Housewares and Beauty sales growth of 5% and 1%, respectively, could be too low. The hot summer could have boosted fan sales (5%-6% of total sales), partially offsetting declines in humidifiers and air purifiers. We are raising our PT to $184 from $172, based on 19x FY22E EPS of $9.70, a newly published estimate. Much easier prior-year sales growth comps are coming up in F2H20, and we believe HELE can mitigate the $4M-$5M of potential List 4 tariff impacts on profit in F4Q20."

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