DA Davidson analyst Keegan Cox raised the firm’s price target on Build-A-Bear (BBW) to $85 from $64 and keeps a Buy rating on the shares. The company reported a beat on both the top and bottom lines with strong traffic and margin expansion from higher pricing and lower promotions, with no drop off in conversion, the analyst tells investors in a research note. The key driver this quarter was continued store growth, led by Build-A-Bear’s international partners, who are adding stores in new markets and expanding the company’s brand reach, the firm added.
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