Guggenheim Upgrades Leslie's (LESL) to Buy
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Guggenheim analyst Steve Forbes upgraded Leslie's (NASDAQ: LESL) from Neutral to Buy with a price target of $25.00.
The analyst comments "Bottom line, not only do we believe that LESL appear well positioned to deliver on all five sales growth levers—setting the stage for ~15% secular EBITDA growth, on average (Exhibit 2)—but the company should be able to leverage its 200-250 in-field service technicians and self-distribution model to strengthen customer file growth and customer loyalty over the near term. When combined with the fact that end demand within the pool and spa care industry is “annuity-like”, we view the current risk/reward scenario favorably—especially given the expected upside potential inherent within the consensus model."
Shares of Leslie's closed at $21.96 yesterday.
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