As previously reported, Craig-Hallum upgraded Sportsman’s Warehouse (SPWH) to Buy from Hold with a $3 price target Driven by operational improvements, green shoots are emerging with positive comparable sales in core categories like fish and camp in Q4 and management expects the overall business to re-inflect to positive same-store sales comparable sales in 2025 for the first time since 2020, the firm says. While consumer and macro headwinds persist, Craig-Hallum thinks shares are trading on a soon-to-be going concern. Further, the firm believes shares have bottomed, with significant upside potential as EPS normalizes.
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