UPDATE: Wunderlich Securities Initiates Coverage On Crown Crafts

Danielle McCoy of Wunderlich Securities initiated coverage of Crown Crafts, Inc. (NASDAQ: CRWS) on Wednesday with a Buy rating and $11 price target.

Crown Crafts is one of the largest providers of infant and toddler bedding, bibs, soft goods and accessories. According to McCoy, the company is currently focusing on expanding its product assortment and channel mix through organic growth and strategic acquisitions.

"With significant free cash flow generation and ample capital flexibility, Crown Crafts is actively looking to add to its healthy portfolio of brands, as well as maintain its highly attractive dividend strategy yielding 4.38 percent," McCoy wrote.

The analyst adds that the company has a reputation of focusing on creating shareholder value and that shares represents an "attractive investment opportunity" especially with its senior management team that has been in place for more than 15 years and "understands the industry and business inside and out."