Traeger price target raised to $5 from $4 at Canaccord

Canaccord analyst Brian McNamara raised the firm’s price target on Traeger to $5 from $4 and keeps a Buy rating on the shares. The firm said they reported results with sales generally inline but with innovative new product coming to market coupled with a potential replacement cycle tailwind emerging next year, Canaccord sees a light at the end of the tunnel after a few lean years.