Build-A-Bear price target raised to $50 from $40 at DA Davidson

DA Davidson analyst Michael Baker raised the firm’s price target on Build-A-Bear (BBW) to $50 from $40 and keeps a Buy rating on the shares. The company’s Q3 results all came in ahead of expectations on most line items, and while its FY24 growth was “tweaked down a bit”, it still points to continued growth in Q4, the analyst tells investors in a research note. Build-A-Bear’s Q3 results were driven by strong traffic, with stores seeing double digit traffic growth, partially offset by weaker online demand, and the management’s continued investments in store growth, brand campaigns, and strategic partnerships should support future growth, the firm added.