UPDATE: Imperial Capital Reiterates Outperform Rating, Raises PT on Escalade, Inc. as 4Q14 EPS Exceeds Expectations

In a report published Friday, Imperial Capital analyst John O'Neil reiterated an Outperform rating on

, and raised the price target from $17.00 to $19.00. In the report, Imperial Capital noted, "We are maintaining our Outperform rating on ESCA shares and increasing our one-year price target to $19 from $17. Our new price target represents 22% potential appreciation from the recent closing price. In the last six months, Escalade has divested two of its three business segments and completed an acquisition in its core sporting goods segment. With the corporate transformation complete, we expect ESCA, which has strong positions in outdoor sports such as archery and indoor recreational products such as table tennis, billiards, and darts, to focus on internal growth and tuck-in acquisitions. The company has a history of gaining market share through innovation and relationships with major retailers, and organic sales grew at a double-digit rate from 2010 to 2013. We believe that as a slimmed down company focusing on sporting goods, ESCA will be able to continue to grow the business and pursue acquisitions to enhance shareholder value." Escalade, Inc. closed on Thursday at $15.56.