B. Riley upgraded Sportsman’s Warehouse (SPWH) to Buy from Neutral with a price target of $4, up from $2. The company’s quarter showed meaningful sequential improvement in comps and gross margin increasing, and Sportsman’s is “dipping their toes back in unit expansion,” the analyst tells investors in a research note. The firm is encouraged by the strategic refinement catalyzed by the new CEO and key hires and says the quarter “gives us the green light we need to more confidently step into this early-innings turnaround story.”
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Read More on SPWH:
- Sportsman’s Warehouse Reports Q3 2024 Financial Results
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- Sportsman’s Warehouse sees FY24 revenue $1.18B -$1.20B, consensus $1.15B
- Sportsman’s Warehouse reports Q3 EPS 4c, consensus (2c)
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