SharkNinja up after BofA initiates with 'buy' rating

Sharkninja

16/05/2024 18:54

** Home appliance maker SharkNinja's shares  SN.N  rise 2%
to $73.58
    ** BofA initiates coverage with "buy" rating, price
objective of $90
    ** The price objective represents a ~25% upside to the
stock's last close
    ** BoFA sees SN to gain market share in its existing
categories with shelf space expansion at key retailers,
including Walmart  WMT.N , Amazon  AMZN.O  and Costco  COST.O 
    ** Also sees share gains in new categories citing co's data
driven approach to innovation, notes opportunity in new sporting
goods category 
    ** Four brokerages rate the stock "strong buy", five "buy"
and one "hold"; their median PT is $83.25 - LSEG
    ** Stock had risen 43% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))