Analyst Brian McNamara from Canaccord Genuity maintained a Buy rating on Traeger (COOK – Research Report) and keeping the price target at $3.00.
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Brian McNamara has given his Buy rating due to a combination of factors, primarily focusing on Traeger’s strategic initiatives to enhance profitability and cash flow. The company has announced a comprehensive plan to streamline its operations, which includes restructuring its organizational framework and optimizing its cost base. This initiative is expected to be completed by the end of FY2025, indicating a long-term commitment to improving financial performance.
Additionally, despite the macroeconomic uncertainties and challenges posed by trade policies, Traeger’s proactive approach in adjusting its pricing strategy and managing production locations demonstrates its resilience and adaptability. The recent adjustments in tariffs between the U.S. and China, although not directly benefiting Traeger, indicate a dynamic trade environment that the company is navigating. These strategic moves, coupled with the company’s efforts to control what it can amidst uncertainties, underpin McNamara’s confidence in recommending a Buy rating for Traeger’s stock.