Canaccord starts ‘rare growth story’ SharkNinja with a Buy

As previously reported, Canaccord initiated coverage of SharkNinja with a Buy rating and $61 price target, calling it a “rare growth story in a competitive space.” The diversified, global product design and technology company that strives to create 5-star rated lifestyle solutions has a track record of bringing disruptive products to market, which has allowed it to enter multiple product categories and drive significant growth and market share gains, the analyst tells investors. In 2023, the company is growing its top line by over 13%in a down year for the industry, notes the firm, which expects share gains to continue and believes this warrants a premium multiple.