UPDATE: Stifel Initiates Coverage on Black Diamond with Buy Rating, $15 PT on Premium Brands, Compelling Growth Prospects

In a report published Tuesday, Stifel analyst Jim Duffy initiated coverage on Black Diamond BDE with a Buy rating and $15.00 price target. In the report, Stifel noted, “We are initiating coverage of Black Diamond Inc. (BDE) with a Buy rating and 12-month target price of $15. Building on an impressive history of innovation, Black Diamond and its various brands, including Gregory Mountain Products and POC, are premium brands within their categories and revered by an enthusiast community. Behind participation growth in core categories, ongoing geographic expansion, new product development including the launch of apparel, and outgrowth of the recently acquired POC, we believe Black Diamond, Inc. has capacity to deliver 20%+ organic growth through 2016. Black Diamond closed on Friday at $10.40.