Lifetime Brands (LCUT) PT Raised to $11.50 at DA Davidson

DA Davidson analyst Linda Bolton Weiser raised the price target on Lifetime Brands (NASDAQ: LCUT) to $11.50 (from $9.50) while maintaining a Buy rating.

The analyst commented, "BUY-rated LCUT reported a 4Q23 beat, with international organic sales +19%, the first time with Y/Y growth since 3Q21. LCUT's new go-to-market strategy there is resulting in share gains. LCUT is launching a new Dolly Parton line, including shelf space in every one of Dollar General's (DG) 20,000 stores. As usual, LCUT expects to give 2024 guidance in May. We are boosting our annual EBITDA estimates, with 2024 raised by 4% and 2025 by 6%. We are increasing our PT to $11.50 from $9.50, based on 6.5x 2025E EBITDA of $66M (raised from $62M). We think LCUT's multiple should expand as the company generates more consistent organic top-line growth."

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