Smith & Wesson (SWHC) PT Raised to $25 at Cowen on Another ‘Beat and Raise’
Cowen reiterated an Outperform rating on Smith & Wesson Holding (NASDAQ: SWHC), and raised the price target to $25.00 (from $20.00), following the company's 2Q earnings report. GAAP EPS of 22¢ beat guide of 16-18¢ on sales of $143MM, $3-8MM over guide. SWHC raised GAAP EPS guide by 8¢ to $1.11-1.16, which looks conservative given H1's impressive firearm profitability, the strong slate of new products, possible recovery in SWHC's lumpy professional sales and a full year of BTI.
Analyst Cai Rumohr commented, "Q2's solid beat & raise reflects strong execution, increasing long gun share, and healthy holiday demand signals. We're raising our price target to $25, 9.0x F16E EBITDA."
For an analyst ratings summary and ratings history on Smith & Wesson Holding click here. For more ratings news on Smith & Wesson Holding click here.
Shares of Smith & Wesson Holding closed at $21.39 yesterday.