Smith & Wesson Brands price target raised to $16 from $14.50 at Lake Street

Lake Street raised the firm’s price target on Smith & Wesson Brands to $16 from $14.50 and keeps a Buy rating on the shares after the company reported “solid” fiscal Q3 results that beat the firm’s expectations and consensus on the top and bottom lines. Management broadly discussed the outlook for Q4 results, notes the firm, which expects Q4 to be “another strong quarter” and thinks the company is also primed for strong long-term results in FY25 with increased demand for firearms during an election year being likely.