SharkNinja price target raised to $97 from $80 at JPMorgan

JPMorgan analyst Andrea Teixeira raised the firm’s price target on SharkNinja to $97 from $80 and keeps an Overweight rating on the shares. The company reported “another blowout beat and raise” quarter and there could be further upside to 2024 guidance “through several building blocks,” the analyst tells investors in a research note. The firm increased 2024 estimates above the high end of guidance following the Q2 report. SharkNinja continues to buck the trend in a challenging consumer discretionary landscape, which should give investors more confidence in company’s ability to execute against its key vectors of growth and sustain a competitive advantage, contends JPMorgan.