Sportsman’s Warehouse price target lowered to $3 from $4 at B. Riley

B. Riley lowered the firm’s price target on Sportsman’s Warehouse (SPWH) to $3 from $4 and keeps a Buy rating on the shares. The company in Q4 “delivered key milestones of the turnaround,” the analyst tells investors in a research note. The firm says that despite a “still-pressured” consumer and soft category backdrop, Sportsman’s drove positive comps in December and January, lending confidence in the expected comp inflection for fiscal 2025. Nonetheless, the trimmed estimates and applied a more conservative EBITDA multiple on the shares post the earnings report.