Stifel analyst W. Andrew Carter upgraded Hayward to Buy from Hold with a price target of $16.50, up from $14. The company’s Q2 results outpaced estimates with a stronger margin performance providing support against the higher destock headwind, the analyst tells investors in a research note. The firm now has increased confidence in the pool equipment cycle trough with “stronger readout encouraging amid weaker category growth and scrutiny over transitory market share gains.”
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Read More on HAYW:
- Hayward reports Q2 EPS 19c, consensus 17c
- Hayward price target raised to $14 from $12.50 at Stifel
- HAYW Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Leslie’s down 19% after negative Q3 pre-announcement
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