Fly News Breaks for June 17, 2016
RGR, SWHC
Jun 17, 2016 | 06:26 EDT
Cowen analyst Cai von Rumohr upgraded Smith & Wesson (SWHC) to Outperform citing the company's "super" Q4 results and "encouraging" guidance for FY17. Smith & Wesson's guidance looks conservative even though retail gun sales slowed in May, von Rumohr tells investors in a research note. The analyst has a $28 price target for the shares. The gun maker closed yesterday up 27c to $21.75. The stock rallied 8% last night to $23.40 in after-hours trading following the company's earnings report. Competitor Sturm, Ruger (RGR) rallied 4% to $61.95 after Smith & Wesson's results.
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