WD-40 price target raised to $313 from $289 at DA Davidson

DA Davidson analyst Linda Bolton Weiser raised the firm’s price target on WD-40 to $313 from $289 and keeps a Buy rating on the shares. The firm also has its “Best-of-Breed Bison” designation on the stock. The company’s CEO is accelerating premiumization and international penetration, which should drive annual growth for WD-40 to 5%-9%, the analyst tells investors in a research note. Premiumization, growth of Specialist, scale, and supply chain initiatives should drive WD-40 EBITDA margin to the medium-term target of 20%-22% vs. 19.6% in FY23, the firm added.