The Bulls Come Out on SodaStream (SODA) into ICR Conference

In addition to getting a pop on a new "Buy" rating at Citi, Oppenheimer had some positive things to say about SodaStream (NASDAQ: SODA) on Friday.

Analyst Joseph Altobello said despite the recent surge he remain bullish ahead of the upcoming ICR conference, "in light of what we view as an attractive valuation and numerous potential catalysts."

Commenting on the upcoming event, Altobello notes, "If SODA's previous ICR presentations are any indication, we expect the discussion to be relatively introductory, though we do hope to get a flavor for US holiday sales, as well as an update on recent and potential new products and partnerships."

At 16x their 2013 EPS estimate of $3.00, valuation remains attractive, the firm notes. The relatively low valuaiton comes despite a debt-free balance sheet and our outlook for almost 30% EPS growth this year.

On upcoming catalysts, the firm cites the company's first-ever Super Bowl ad in early February, followed by the announcement of 1Q results and an appearance at the International Home + Housewares Show in Chicago in March. In addition, in May they expect an update on SODA's US household penetration numbers (which should show a significant improvement over last year's 0.6%), as well as possibly the company's first-ever Analyst & Investor Day.

The firm maintained a Buy rating and price target of $55.00

For an analyst ratings summary and ratings history on SodaStream International click here. For more ratings news on SodaStream International click here.

Shares of SodaStream International closed at $47.00 yesterday.

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