Vista Outdoor price target lowered to $29 from $38 at Lake Street

Lake Street lowered the firm’s price target on Vista Outdoor to $29 from $38 and keeps a Buy rating on the shares after the company announced an agreement to sell its Sporting Products, or ammunition, business to Czechoslovak Group for $1.91B in an all-cash transaction. Management also released preliminary Q2 results, notes the analyst, who says that with the value of the Sporting Products “now a known entity of approximately $17 per share,” investors’ remaining chore is to find a value for the remaining Outdoor Products business, but “this becomes more difficult due to the drastically lowered near-term outlook.”