SharkNinja initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of SharkNinja with an Overweight rating and $70 price target. SharkNinja is a global household products company that aims to solve consumer problems, supported by technology and engineering-led innovation at affordable prices, the analyst tells investors in a research note. The firm believes the company is well positioned to drive high-single-digit sales and double-digit profit growth over the next several years through three growth pillars: market share gains in large categories through disrupting proprietary technology, entry into new segments and further margin expansion.