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UPDATE: D.A. Davidson Upgrades Skullcandy

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In a report released Wednesday, D.A. Davidson analyst Andrew Burns upgraded Skullcandy (NASDAQ: SKUL) from Hold to Buy while increasing its price target from $8 to $10.

Analysts at D.A. Davidson favor Skullcandy's core business stabilizing, influencing operating margin improvement by 12.2 percent, higher margin in-ear product and expansion into Wal-Mart stores. The note states the company benefiting from Wal Mart's recent announcement of $20 million with accretive margins over the next few years.

D.A. Davidson's $10 price target is based on a 10x EV/EBITDA multiple.

Latest Ratings for SKUL

DateFirmActionFromTo
Mar 2015WunderlichInitiates Coverage onBuy
Mar 2015CRT CapitalUpgradesFairly ValuedBuy
Jan 2015JefferiesMaintainsBuy

View More Analyst Ratings for SKUL
View the Latest Analyst Ratings

Posted-In: Andrew Burns D.A. DavidsonUpgrades Price Target Analyst Ratings

 

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