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Fly News Breaks for January 14, 2020
SPWH
Jan 14, 2020 | 06:08 EDT
Piper Sandler analyst Peter Keith recommends using the recent weakness in shares of Sportsman's Warehouse as a buying opportunity. The analyst keeps an Overweight rating on the name with an $11 price target. While the Q4 preannouncement was disappointing, the cause of the miss seems isolated to a very compressed period in December, Keith tells investors in a research note. Looking forward, the analyst believes the company's earnings growth "has potential to be quite strong" over the next two years as Sportsman's benefits from the positive competitive landscape shift, better buying power, omni-channel initiatives, and potential for election year demand for firearms.
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