Goldman Sachs Turns Bullish On Leslie's - Read Why

Goldman Sachs Turns Bullish On Leslie's - Read Why
  • Goldman Sachs analyst Kate McShane upgraded Leslie’s Inc LESL to Buy from Neutral with a price target of $27, up from $26, implying a 29.4% upside.
  • McShane predicts the sales growth to continue, given the maintenance of a larger pool base, management execution in Pro and acquisitions, and a lift from solid migration trends.
  • The analyst expects demand to pick up compared to pre-pandemic levels based on app downloads and Alphabet Inc GOOGL Google search interest.
  • McShane also forecasts the company to have a higher gross margin and continued double-digit EBITDA growth in 2022 and 2023.
  • The retailer raised its FY22 sales outlook to $1.495 billion - $1.52 billion from $1.475 billion - $1.50 billion versus the consensus of $1.50 billion.
  • Price Action: LESL shares are trading higher by 3.67% at $20.89 on the last check Monday.

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