UPDATE: Stifel Upgrades The Simply Goods Group (SMPL) to Buy

October 24, 2021 5:22 PM EDT
Get Alerts SMPL Hot Sheet
Price: $36.21 +1.32%

Rating Summary:
    11 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 8 | New: 70
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(Updated - October 25, 2021 4:37 AM EDT)

Stifel analyst Christopher Growe upgraded The Simply Goods Group (NASDAQ: SMPL) from Hold to Buy with a price target of $42.00 (from $38.00).

The analyst commented, "We are upgrading the shares to Buy from Hold and establishing a $42 target price. Our outlook for near-term growth bolstered by the potential for an acceleration in long-term growth driven the growth in new users and increased household penetration provides the basis of our optimism here. A recovery in mobility and buy-rate for its products is not embedded in our estimates and could enhance its growth through the year. We believe M&A activity could occur as well and, while difficult to estimate, we see opportunity from Simply using its balance sheet to buy a business or being a takeover candidate itself. The company reported a stronger 4Q21 performance and offered guidance in line with our consensus-leading estimate – 11% sales growth and 12% EBITDA growth. While the shares reacted favorably on Friday, we believe the revelation of the growth potential throughout FY22 should continue to move the shares higher."

For an analyst ratings summary and ratings history on The Simply Goods Group click here. For more ratings news on The Simply Goods Group click here.

Shares of The Simply Goods Group closed at $34.31 yesterday.

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