Gilford Securities Reiterates Buy on Summer Infant
Gilford Securities maintains its Buy rating on Summer Infant (NASDAQ: SUMR) as a the company misses fourth quarter results significantly, but displays a strong 2012 product cycle.
Gilford Securities says, " 4Q results significantly miss expectations. Consumers typically focus on items other than the juvenile category during the holidays, but this year was weaker than normal. Our projections below should prove realistic, with upward revisions possible. 2012 position remains strong. Summer will build sales momentum in its new Prodigy™ system, introduce new BornFree products, grow its branded crib segment and launch its new PEEK™ monitor system mid-year."
SUMR closed at $6.85 per share on Tuesday.
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