27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Don't sleep on bedding products company Casper Sleep Inc (NYSE:CSPR), Goldman Sachs said Monday.
The Casper Sleep Analyst
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Alexandra Walvis initiated coverage of Casper Sleep with a Buy rating and a $16 price target.
The Casper Sleep Thesis
Sleep is big right now. It's a growing branch of the health and wellness market, and as a company that brands itself instead as a "holistic sleep" company, Casper, which sells a range of sleep products from mattresses to full beds to the linens that go on them, can capture some of that interest, Walvis said.
Casper is a not only a unique brand, but also has a solid path to improving profitability through the addition of new business channels, Walvis said.
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Also, the price is now right. The company went public in early February, with shares opening above $14. The price is now down below $9.
"While we recognize execution risk and a competitive marketplace, we believe these concerns are more than adequately reflected in shares given depressed valuation, and see upside to shares from current levels," Walvis wrote in a note.
The company is growing through wholesale, which Walvis said could reach nearly a third of sales, up from 20% currently. That's driven by Casper's move to grow through distribution partners like Costco Wholesale Corporation (NASDAQ:COST) and Target Corporation (NYSE:TGT), Walvis said.
CSPR Price Action
Investors hadn't woken up to the positives Goldman Sachs sees, at least not on Monday. The stock was down 2.44% to $8.80 at publication time.
Related Links:
Casper Makes Wall Street Debut
Mattress Company Casper Sleep Files For IPO
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.