Fly Intel: Top five analyst initiations » 09:5211/2211/22/21
GFS, DTC, RENT, RDBX, BIRD
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. GlobalFoundries (GFS) initiated with a Buy at Citi, Needham, Deutsche Bank, Jefferies, and BofA, initiated with an Outperform at Baird, Credit Suisse, Cowen, Raymond James, and Wedbush and initiated with an Equal Weight at Morgan Stanley. 2. Solo Brands (DTC) initiated with a Buy at BofA and Jefferies, initiated with an Overweight at JPMorgan, initiated with an Outperform at Credit Suisse and William Blair and initiated with a Neutral at Citi. 3. Rent The Runway (RENT) initiated with a Buy at Goldman Sachs, initiated with an Overweight at Barclays, Piper Sandler, Wells Fargo, KeyBanc, and Morgan Stanley, initiated with an Outperform at Credit Suisse, JMP Securities and Telsey Advisory. 4. Redbox (RDBX) initiated with a Buy at BTIG. 5. Allbirds (BIRD) initiated with a Hold on valuation at Berenberg. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
BofA starts Solo Brands at Buy with $28 price target » 07:5211/2211/22/21
BofA analyst Robert Ohmes…
BofA analyst Robert Ohmes initiated coverage of Solo Brands with a Buy rating and $28 price target. Solo Brands is a growing direct-to-consumer, or DTC, platform that offers products through a portfolio of Leisure brands, that includes Solo Stove, Chubbies, Isle and Oru Kayaks and he believes Solo Stove should benefit from millennial household formation, Ohmes tells investors. He also sees a large addressable market opportunity of 76M detached single family households in the U.S., where Solo Stove is less than 1% penetrated today, Ohmes added.
Solo Brands initiated with a Buy at BofA » 07:4211/2211/22/21
BofA analyst Robert Ohmes…
BofA analyst Robert Ohmes initiated coverage of Solo Brands with a Buy rating and $28 price target.
Solo Brands initiated with a Buy at Jefferies » 07:3211/2211/22/21
Jefferies analyst Randal…
Jefferies analyst Randal Konik initiated coverage of Solo Brands with a Buy rating and $30 price target. The company's portfolio of lifestyle brands, anchored by Solo Stove, are "a natural beneficiary of the Great Outdoor Mega trend in its early innings of growth," Konik tells investors. Given that, plus the company's digitally-native go-to-market approach, he sees significant opportunity for upside to consensus estimates as well as multiple expansion potential for the shares, Konik added.
Solo Brands initiated with an Outperform at William Blair » 07:0811/2211/22/21
William Blair analyst…
William Blair analyst Sharon Zackfia initiated coverage of Solo Brands with an Outperform rating and no price target. With 92% of sales across its brands, Solo is uniquely positioned in a category traditionally reliant on retail, Zackfia tells investors in a research note. Solo's direct-to-consumer platform provides real-time consumer insights that inform its product innovation while enabling a curated brand experience and direct relationship with its customers, says the analyst.
Solo Brands initiated with an Outperform at Credit Suisse » 06:1711/2211/22/21
Credit Suisse analyst…
Credit Suisse analyst Kaumil Gajrawala initiated coverage of Solo Brands with an Outperform rating and $28 price target.
Solo Brands initiated with an Overweight at Piper Sandler » 06:0411/2211/22/21
Piper Sandler analyst…
Piper Sandler analyst Peter Keith initiated coverage of Solo Brands with an Overweight rating and $23 price target. The company has an attractive portfolio of premium, high-margin, direct-to-consumer outdoor/lifestyle brands, most notably led by Solo Stove at 65% of sales, Keith tells investors in a research note. The analyst sees a "long runway for growth" from structural tailwinds in outdoor/backyard activities, growing brand awareness, product innovation, and international expansion.
Solo Brands initiated with a Neutral at Citi » 06:0011/2211/22/21
Citi analyst Wendy…
Citi analyst Wendy Nicholson initiated coverage of Solo Brands with a Neutral rating and $20 price target. The analyst sees favorable industry tailwinds and "lots of whitespace for growth." However, she thinks the stock is close to fairly valued and that the risk/reward profile looks balanced.
Solo Brands initiated with an Overweight at JPMorgan » 04:4611/2211/22/21
JPMorgan analyst Christopher Horvers initiated coverage of Solo Brands with an Overweight rating and $27 price target. The analyst sees "strong" brand momentum and near-term upside drivers to estimates. Solo has structural advantages from being 84% direct-to-consumer and long-term optionality from platform synergies, product innovation, marketing and supply chain efficiencies, international expansion and acquisitions, Horvers tells investors in a research note.
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Opening Day: Braze jumps in debut as UserTesting stumbles below IPO price » 09:0811/2011/20/21
AHI, FINW, LITM, SG, BRZE, IREN, USER, SEV, TRDA, SONX, AURA, UDMY, AIRS, HRT, BFRI, FLNC, GFS, DTC, CMTG, BIRD, LIAN, CHO, RGG, KETR, HCP, CAST, QNIU, BABA, AUTH