Piper Jaffray Reiterates Overweight and PT of $35 on Cabela's

Piper Jaffray reiterated its Overweight rating on Cabela's

after attending its analyst day. At the same time, Piper Jaffray left its price target unchanged at $35. In a research report published today, Piper Jaffray states, "Management focused the presentations on merchandise margin expansion, strategic sourcing, social media utilization and CLUB Visa loyalty expansion. We also received a tour of the newest store in Allen, TX which we found impressive and believe that it will resonate well with customers. We are reiterating our OW rating and $35 PT coming out of yesterday's events." On Wednesday, Cabela's added 2.21% to its value to close the day at $23.60.