SharkNinja price target raised to $93 from $80 at Morgan Stanley

Morgan Stanley analyst Megan Alexander raised the firm’s price target on SharkNinja (SN) to $93 from $80 and keeps an Equal Weight rating on the shares. The quarter was “objectively impressive with sales growth of 35%, which we believe was likely even better than more bullish expectations,” the analyst tells investors. The muted flow-through to the bottom-line “may have left something to be desired,” but the firm thinks “most tend to be content with this as long as there is a visible return on the company’s additional investments,” the analyst added. Tactically, the firm has been hoping for a pullback to get more constructive on the stock, as it says it has “always leaned more positively in the context of our EW-rating, but unlike our peers, we clearly missed the call.” For now, the firm is “still comfortable on the sidelines but looking for a catalyst to change our minds,” the analyst added.