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UPDATE: Piper Jaffray Initiates Coverage on Summer Infant With Overweight Rating, $4.25 PT on Multiple Positive Factors

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In a report published Tuesday, Piper Jaffray analyst Stephanie S. Wissink initiated coverage on Summer Infant (NASDAQ: SUMR) with an Overweight rating and $4.25 price target.

In the report, Piper Jaffray noted, “We are initiating coverage with an Overweight rating and $4.25 PT. Summer Infant is an early-stage growth company with highly recognizable brands in the juvenile care industry. Following a period of hypergrowth tied to a single product category (monitors), the company has leveraged its premiere distribution with top retailers to reposition its market approach into other categories and realign its cost structure. Following an early 2013 refinancing, the company is well capitalized to deliver on its growth objectives. Execution is the biggest risk but is offset, in our view, by a favorable demographic and spending backdrop. Our $4.25 price objective is based on 15x FY14E EPS.”

Summer Infant closed on Monday at $3.32.

Latest Ratings for SUMR

Mar 2015WunderlichMaintainsBuy
Dec 2014WunderlichInitiates Coverage onBuy
May 2013Roth CapitalAssumesNeutral

View More Analyst Ratings for SUMR
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Posted-In: Piper Jaffray Stephanie S. WissinkAnalyst Color Initiation Analyst Ratings


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