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In a report published Friday, Brean Capital analyst Liz Pierce initiated coverage on
Zumiez Inc.ZUMZ with a Buy rating and $40.00 price target.
In the report, Brean Capital noted, “We are initiating coverage on ZUMZ with a BUY rating and a $40 target price. In our view, ZUMZ is the Action Sports category leader with stellar long-term fundamentals. As evidenced by several years of solid results, we believe the company's authentic and differentiated merchandise assortment has been instrumental is creating strong brand loyalty and thus leading to productivity levels that are considerably higher than many of its peer group. Although the stock has recently had a nice run, we believe there is still multiple expansion potential as we expect ZUMZ to continue to outperform the sector. Our $40 target price is based on a multiple of 21x our FY15 EPS estimate of $1.87 and a 1.0 PEG ratio.”
Zumiez closed on Thursday at $35.06.
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