Roth Capital reiterated remains Bullish on Roth Capital Sequential Brands (SQBG) Following signed Licensing Agreement
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Roth Capital reiterated a Buy rating and $20.00 price target on Sequential Brands (NASDAQ: SQBG) following signed licensing agreement to acquire Joe’s core categories with Global Brands Group.
Analyst Dave King commented, "Sequential signed a definitive agreement to acquire the Joe’s brand for $67M as well as a long-term licensing deal for Joe’s core categories with Global Brands Group. We estimate low-teens EPS accretion from this transaction or HSD accretion pro forma for the planned deal for Martha Stewart. Our Buy reflects SQBG’s profitable and scalable business model, strong free cash flows, industry-leading management, and fast-growing portfolio of consumer brands."
Shares of Sequential Brands closed at $16.49 yesterday.
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