Cabela's (CAB) Could See Upside as Guns Fly Off Shelf

Analysts at Wells Fargo said they see upside potential for gun sales that could extend well into 2013, and as a result they maintained an Outperform rating on Cabela's (NYSE: CAB) with a price target of $57 to $60.

"Our in-depth look at background checks for firearms suggests that Cabela's comps could accelerate with the election in Q4 to the mid to high single digits and that the continued tail of stronger firearm sales likely extends through H1 2013," said analyst Matt Nemer.

Nemer called Cabela's "one of the most compelling long-term growth stories in retail," and he views the recent decline in CAB shares as a buying opportunity.

For an analyst ratings summary and ratings history on Cabela's click here. For more ratings news on Cabela's click here.

Shares of Cabela's closed at $45.02 yesterday.

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