Columbia Sportswear initiated with a Neutral at Piper Sandler

Piper Sandler initiated coverage of Columbia Sportswear with a Neutral rating and $92 price target. Columbia has a strong brand rooted in innovative yet accessible product with a democratic price point, but the stock’s valuation looks reasonable given the current macro conditions, the analyst tells investors in a research note. The firm says t volatile consumer demand and more cautious wholesale trends in 2023 will likely create the need for a reset of the company’s 2025 revenue and earnings targets.