Roth MKM raised the firm’s price target on American Outdoor Brands to $11 from $10 and keeps a Buy rating on the shares. The company delivered a Q3 revenue beat, with healthy traditional channel growth of 8% that was offset by weaker gross margins due to higher freight costs moving through inventory, the analyst tells investors in a research note. American Outdoor’s operating expense discipline enabled its adjusted EBITDA to top consensus however, with demand environment across both outdoor and shooting sports seen as “generally stable”, the firm stated, also noting positive point-of-sale trends at retail and replenishment orders.
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