Vista Outdoor downgraded to Hold from Buy at Lake Street

Lake Street analyst Mark Smith downgraded Vista Outdoor to Hold from Buy with a price target of $37, up from $33. Vista reported Q4 results that were mixed relative to the firm’s estimates, but “generally in line,” the analyst tells investors. The firm is raising its price target, primarily due to the strong cash flow and reduction in debt, but downgrading the shares based on valuation and limited upside to the current price in “all likely scenarios over the next several months,” the analyst added.