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Fly News Breaks for July 5, 2016
SWHC
Jul 5, 2016 | 08:40 EDT
Craig-Hallum analyst Steven Dyer raised Smith & Wesson's price target to $32 from $28 following a spike in background checks in June of up 29% year-over-year and up 23% sequentially, a record for June. The analyst notes FY17 guidance does not assume any periods of increased demand from political, regulatory, or social events. Given the recent checks that indicate demand remains robust and gun sales will remain strong through the election, Dyer believes guidance will prove conservative and reiterates his Buy rating on Smith & Wesson shares.
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