Cowen Upgrades Vista Outdoor (VSTO) to Outperform
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Cowen analyst Gautam Khanna upgraded Vista Outdoor (NYSE: VSTO) from Market Perform to Outperform with a price target of $33.00 (from $29.00).
The analyst comments "We are upgrading VSTO to Outperform from Market Perform, with a $33 PT based on a sum-of-the-parts (SOTP) valuation framework. The current ammo demand upcycle is apt to extend, valuation is compelling, & overhangs that plagued VSTO in the prior cycle (portfolio quality; leverage) have abated."
Shares of Vista Outdoor closed at $21.07 yesterday.
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