Lake Street analyst Mark Smith said the selloff in Vista Outdoor shares since the announcement of the sale of the Savage firearms business in early July has been overdone. He said a large part of the Q1 earnings miss and lower guidance was due to the divested firearms business, but this should not have come as a surprise since management had previously given a warning regarding the divestiture and its impact. His analysis of 33 M&A transactions over the last eight years for businesses similar to Vista leads him to conclude that the company would be an attractive takeover candidate, noted Smith, who keeps a Buy rating and $9 price target on the stock.