Roth Capital Assigns Buy On Skullcandy Shares, $10 PT
In a research report issued today, Roth Capital analyst Dave King assigned a Buy rating on Skullcandy (NASDAQ:SKUL) with a price target of $10.
King wrote, “We recently hosted investor meetings with Skullcandy’s CFO Jason Hodell and came away still encouraged by the company’s many margin-accretive growth drivers and comfortable in our view that estimates are conservative. We are also impressed by management’s increasing emphasis on profitability by retail relationship. We like Skullcandy for its clean balance sheet and newer management’s renewed focus on brand, which should drive continued growth in the quarters ahead.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Dave King has a total average return of -2.8% and a 37.2% success rate. King has a 3.9% average return when recommending SKUL, and is ranked #2849 out of 3339 analysts.