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Pursuit assumed with a Buy at Craig-Hallum

Craig-Hallum analyst Eric Des Lauriers assumed coverage of Pursuit (PRSU) with a Buy rating and $40 price target The firm sees Pursuit as benefiting from the macro trend of consumers increasing spend on experiences, sees accelerating growth on tap for 2025 and sees upside to its 2026 estimates. Craig-Hallum expects the stock to improve throughout the year as revenue growth and EBITDA margins expand year-over-year and as investors gain a firmer grasp of the recently transformed business and newly formatted reporting. The company’s recent transformation-divesting a non-core business for $535MM and cleaning up the balance sheet-sets them up for increased internal investment and M&A, where the company has a deep pipeline of multi-year relationships with owners of both tuck-in and transformational assets, it adds.

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