Latham Group upgraded to Buy from Hold at Stifel

Stifel upgraded Latham Group to Buy from Hold with a price target of $4, up from $3. The analyst believes the shares “dramatically undervalue” the company’s ability to disproportionately capitalize on pool category growth amid a more normalized environment. Uncertainty around the depth of revenue and EBITDA declines “has impeded investor attention/enthusiasm” with initial fiscal 2024 guidance resetting expectations “to a level affording room for error,” the analyst tells investors in a research note.