Why Sportsman's Warehouse Stock Ran Higher Today
Shares of Sportsman's Warehouse (NASDAQ: SPWH) ran higher today, up by 14% as of 2:45 p.m. EDT, after getting an upgrade from Wall Street. Piper Sandler increased its price target on the stock from $16 to $18 and reiterated an overweight rating.
Analyst Peter Keith believes that the sporting goods retailer enjoyed "remarkably strong" sales in the second quarter. That momentum likely continued, potentially even accelerating, throughout the summer. Sportsman's Warehouse has been capitalizing on robust demand for firearms and ammunition, a category that some competing retailers like Dick's Sporting Goods have exited.
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Source Fool.com
