UPDATE: Imperial Capital Reiterates In-Line Rating, Raises PT on Black Diamond as Apparel is Off to Promising Start with Significant Growth Ahead

In a report published Friday, Imperial Capital analyst Lee J. Giordano reiterated an In-Line rating on Black Diamond BDE, and raised the price target from $10.00 to $13.00. In the report, Imperial Capital noted, “We are maintaining our In-Line rating and increasing our one-year price target to $13 from $10. Our price target is about 2% above the recent share price. We believe Black Diamond remains well positioned for significant growth as it leverages its powerful brand platform to enter new categories, expand its apparel line, and introduce innovative new products. While we are highly confident in the long-term strategy for Black Diamond, we believe significant upside in the stock price may be limited in the near term due to a premium valuation and challenging external environment for consumer spending.” Black Diamond closed on Thursday at $12.70.