UPDATE: Ascendiant Capital Markets Initiates Coverage on Zumiez, Sweet Long-Term Fundamentals

in a report published by Ascendiant Capital Markets, analyst Elizabeth Pierce initiated coverage on Zumiez ZUMZ with a Buy rating and $30 price target. Ascendiant Capital Markets reported that, “In our view, ZUMZ is the action sports category leader with stellar long-term fundamentals. While upcoming compares are difficult and while the economic situation in Europe is still vague, we believe this is fully reflected in the valuation of the stock. Moreover, we believe the company continues to make investments that will solidify its position as the dominant player in the global action sports arena.” Zumiez closed at $24.07 on Wednesday.