UPDATE: Topeka Capital Markets Initiates Zumiez with Buy on Key Strengths, Strong Balance Sheet

In a report published Thursday, Topeka Capital Markets analyst Dorothy S. Lakner initiated coverage on Zumiez ZUMZ with a Buy rating and $30.00 price target. In the report, Lakner noted, “We see ZUMZ as one of the few teen retailers with growth in its core domestic business as well as a unique concept in the action sports sector and an emerging international expansion strategy that can take advantage of fragmented markets as well as action sports' worldwide appeal. Key strengths are its strong management team and commitment to training associates. Balance sheet is strong with over $3.00 in cash and little debt. We believe ZUMZ should be a core holding for small cap growth investors.” Zumiez closed on Wednesday at $24.90.