SharkNinja initiated with a Buy at UBS

UBS analyst Rennie Pan initiated coverage of SharkNinja with a Buy rating and $76 price target. UBS sees three key drivers for SharkNinja: Share gains in existing categories, expansion of subcategories, and globally. The firm sees SharkNinja as a growth story and forecasts 10% sales and 14% adjusted EPS compound annual growth rates in 2024-2026, 7%-12% above consensus, the analyst tells investors in a research note. UBS is more bullish on SharkNinja’s sales growth potential and less concerned over margins, even with potential tariff resumption.