Helen of Troy (HELE) PT Raised to $266 at DA Davidson

December 1, 2021 6:34 AM EST
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Price: $209.94 -3.07%

Rating Summary:
    2 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 25 | Down: 19 | New: 35
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DA Davidson analyst Linda Bolon Weiser raised the price target on Helen of Troy (NASDAQ: HELE) to $266.00 (from $254.00) while maintaining a Neutral rating.

The analyst commented, "HELE announced it agreed to acquire Osprey, a marketer of backpacks and daypacks, for $414M or ~13.5x CY22E EBITDA. The deal checks all the boxes and is accretive to gross margin, targeted sales growth of 2.5%-3.5%, and EPS. Valuation seems high for a "fixer upper." Sales have not recovered to the 2019 level due to supply chain issues in Vietnam, market share has been flattish, and investment is needed. The high-single digit growth targeted for FY23 could be hard to achieve if Vietnam issues persist. We are maintaining our NEUTRAL but raising our FY23E EPS by $0.57 (4%) to $13.69 and our PT to $266 from $254, based on 18x FY24E EPS of $14.75."

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