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KeyBanc Starts Skullcandy (SKUL) at Buy; The Sound of Growth

August 29, 2011 7:14 AM EDT
Get Alerts SKUL Hot Sheet
Price: $6.35 --0%

Rating Summary:
    5 Buy, 8 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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KeyBanc initiates coverage on Skullcandy (NASDAQ: SKUL) with a Buy. PT $20.00.

KeyBanc analyst says, "Skullcandy is well positioned in the secularly attractive mobile ecosystem. We view the secular trend of music portability, ushered in by the advent of the iPod (Nasdaq: AAPL) in 2001 and iPhone in 2007, as the key driver in Skullcandy's growth. To this end, SKUL's product offering spans from the accessible ($20-$70) to high-end (Aviator at $150 to Mix Master at $250) and distinctive marketing and advertising allows it to target youth as well as mobile professionals. With global growth in smartphones likely achieving a consistent 20%+ growth rate, we think Skullcandy is well positioned to take advantage of key secular trends."

For more ratings news on Skullcandy click here and for the rating history of Skullcandy click here.

Shares of Skullcandy closed at $15.49 yesterday.


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