Canaccord Reiterates Buy Rating For Black Diamond Following The Sale Of Gregory
In a report issued today, Canaccord analyst Camilo Lyon reiterated a Buy rating on shares of Black Diamond, Inc. (BDE) with a $17.00 price target.
The analyst noted, “The sale of Gregory comes at an important time for BDE in that it needs to invest more actively in the point of sale displays and overall presentation of its recently launched apparel line so that it can better compete with its peer group. With this ample cash infusion into the business, BDE can now self-fund these necessary investments to support its goal of generating $250M in annual apparel sales by 2020. In fact, we are of the opinion that BDE could reach this sales goal 1-2 years faster with this cash infusion”
According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, analyst Camilo Lyon currently has a one-year average return of 7% and a 56% success rate. He is ranked #566 out of 3115 analysts.