Needham & Company Maintains a 'Strong Buy' on Black Diamond (BDE); Strong 1Q Despite Weather Impact
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Price: $6.65 --0%
Rating Summary:
3 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
3 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Needham & Company maintains a 'Strong Buy' on Black Diamond (NASDAQ: BDE) price target of $11.00.
Analyst, Sean McGowan, said, "BDE reported 1Q results above expectations on the top and bottom line despite the impact of a warm and dry winter...BDE’s results featured improvements in nearly every category— particularly impressive, in our view, considering the warm winter across much of North America and Europe. Management continues to develop a line of apparel that is scheduled to debut in fall 2013. BDE completed a $63 mm capital raise in late February; proceeds were used to pay down an existing credit facility, and management expects to use the remaining money to explore potential acquisitions, at least one of which is in the later stages of completion. We are increasing our 2012 estimate to $0.10 (from $0.05), which reflects the impact of the 1Q beat as well as a slight rounding adjustment."
For an analyst ratings summary and ratings history on Black Diamond click here. For more ratings news on Black Diamond click here.
Shares of Black Diamond closed at $9.05 yesterday.
Analyst, Sean McGowan, said, "BDE reported 1Q results above expectations on the top and bottom line despite the impact of a warm and dry winter...BDE’s results featured improvements in nearly every category— particularly impressive, in our view, considering the warm winter across much of North America and Europe. Management continues to develop a line of apparel that is scheduled to debut in fall 2013. BDE completed a $63 mm capital raise in late February; proceeds were used to pay down an existing credit facility, and management expects to use the remaining money to explore potential acquisitions, at least one of which is in the later stages of completion. We are increasing our 2012 estimate to $0.10 (from $0.05), which reflects the impact of the 1Q beat as well as a slight rounding adjustment."
For an analyst ratings summary and ratings history on Black Diamond click here. For more ratings news on Black Diamond click here.
Shares of Black Diamond closed at $9.05 yesterday.
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