UPDATE: Stifel Initiates Coverage on Fox Factory Holding on Mixed Factors
In a report published Tuesday, Stifel analyst Jim Duffy initiated coverage on Fox Factory Holding Corp. (NASDAQ: FOXF) with a Hold rating.
In the report, Stifel noted, “Initiating coverage with a Hold rating. We are initiating coverage of Fox Factory Holding (FOXF) with a Hold rating. Although the company's three- to five-year earnings growth and cash flow potential are compelling, we believe the current share price adequately balances this potential against associated execution risks. Authentic premium brand position recognized for redefining ride dynamics. FOX designs, manufactures, and sells premium suspension products for off-road vehicles, including high-end mountain bikes (2/3 of sales) and powered vehicles such as Side-by-Sides, ATV's, snowmobiles, motorcycles, and off-road 4x4's (1/3 of sales). A rich racing heritage and history innovation have earned the brand significant equity, with both OEM's (~81% of sales) and the enthusiast community helping the brand gain share and expand the product line to new vehicle categories.”
Fox Factory Holding Corp. closed on Friday at $18.16.
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