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.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorNewsUpgradesPrice TargetAnalyst RatingsMoversTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!