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Fly News Breaks for January 18, 2019
DKS, SPWH
Jan 18, 2019 | 06:04 EDT
Piper Jaffray analyst Peter Keith upgraded Sportsman's Warehouse (SPWH) to Overweight and raised his price target for the shares to $8 from $6. The company is "poised for substantially better fundamentals" while the shares trade at the "lowest valuation within our coverage universe," Keith tells investors in a research note. He believes the new CEO is driving Sportsman's "rapid" omni-channel evolution, the changing political climate will potentially help stabilize firearm and ammo sales, Dick's Sporting Goods (DKS) exiting firearms would be a "substantial" market share opportunity, and that favorable weather appears to be helping Q4.
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