SharkNinja rises after Oppenheimer starts at 'outperform'

Sharkninja

01/10/2024 14:29

** SharkNinja Inc's  SN.N  shares up 1.5% premarket to
$110.39 after Oppenheimer initiates home appliance maker at
'outperform'
    ** Brokerage sets PT at $120, implying ~10% upside to
stock's last close
    ** SN an "attractive global consumer growth play",
Oppenheimer says in note, adding management has executed well
and exceeded expectations in recent qtrs despite difficult US
consumer durables backdrop
    ** Leading brand portfolio, track record and "strong"
innovation, and differentiated marketing efforts to fuel further
market share gains, Oppenheimer says
    ** During recent store checks, Oppenheimer says continues to
see "a stepped up presence of SN products across US retailers
from BJ and COST to Sephora and ULTA"
    ** Now, 11 of 12 brokerages covering SN rate stock "strong
buy" or "buy", 1 rates "hold" and median PT is $105.83, per LSEG
    ** Through Mon close, stock up 112% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))