Solid Buy Rating Issued on SodaStream
An analyst has initiated coverage of cult stock SodaStream International with a Buy rating and a whopping price target of $70. That may sound bullish, but amazingly it is in the middle of the pack.
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SodaStream International Ltd. (NASDAQ: SODA) remains a bit of a cult stock, and it is down significantly from its highs. Now we have a Wall Street research report calling it a Buy.
KeyBack Capital Markets has initiated coverage with a Buy rating and a whopping price target of $70 for the stock. This sounds overly bullish when you consider that shares were at $48.42 yesterday, but amazingly it is in the middle of the pack.
SodaStream’s 52-week high is $77.80, and the consensus analyst price target is actually up at $76.63. It even appears as though the highest price target is still up at $100 for the stock. The upgrade is helping to boost shares by almost 6% to $51.25, in part because the 52-week low is only $45.25.
One issue to point out is that even with the pullback, SodaStream is still worth just over $1 billion. That was the case before this positive analyst rating as well.
SodaStream trades just under 1 million shares on an average day, but the stock remains heavily shorted by short sellers. The mid-December short interest was listed as 8.477 million shares.
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
