UPDATE - Barclays Initiates Coverage on CaesarStone (CSTE) at Overweight; Strong Trends Plus Cyclical Tailwind

UPDATE - Barclays initiates coverage on CaesarStone Sdot-Yam (NASDAQ: CSTE) with an Overweight. PT $15.00.

Analyst, Stephen Kim, said, "We believe CaesarStone benefits from an attractive combination of strong secular growth trends and a favorable cyclical tailwind...The secular growth story is driven by CSTE's expansion of direct distribution in the U.S. and Canadian markets, and quartz' anticipated share gains of the countertop market in these regions."

However, Kim does point out certain risks including: 1) margin pressures in the near-term due to the acquisition of direct distribution networks; and 2) CSTE's manufacturing facility being concentrated in Israel.

To see more ratings on CSTE, Click Here

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