SharkNinja (SN) PT Raised to $95 at BofA Securities

BofA Securities analyst Alex Perry raised the price target on SharkNinja (NYSE: SN) to $95.00 (from $90.00) while maintaining a Buy rating.

The analyst commented: "We believe SN utilizes a halo product strategy, entering new wholesale distribution with an anchor product, and then gaining shelf space with adjacent products. For example, its Ninja FrostVault cooler allowed for initial entrance into DKS (with plans for a full chain rollout by labor day), and has led to additional conversations with sporting goods retailers for its Ninja Blast Blender, fans and outdoor cooking products. We also expect SN to have the necessary tooling to materially scale its cooler business in 2025. SN sees the grocery/supermarket channel as a large opportunity and believes its Ninja Thirsti carbonating drink system will likely be its anchor product. We raise our PO from $90 to $95 based on 22X our C25 EPS of $4.35 (from 21x previously) and reiterate our Buy rating as we believe SN continues to see strong momentum across both new and existing product categories, despite a relatively difficult consumer discretionary environment."

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