B. Riley analyst Anna Glaessgen put a Buy rating on Vista Outdoor with a $32 price target following a transfer of coverage. The shares trade at a discount to high-quality outdoor equipment businesses, which stems from the company’s exposure to firearms and ammo, as well as inconsistent execution against targets, the analyst tells investors in a research note. Looking ahead to 2024, the firm expects both of these items to be addressed. Sporting products is slated to be sold in 2024, and a expect a combination of greater business visibility and a more realistic approach to setting expectations will yield a stronger “meet/beat” record with the Street, says B. Riley.
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