Barclays, Baird Raise Latham Price Target Complementing Radiant Pools Acquisition
- Barclays analyst Matthew Bouley raised the price target on Latham Group Inc (NASDAQ: SWIM) to $30 (an upside of 17%) from $26 and maintained an Overweight rating on the shares.
- Bouley views the acquisition of Radiant Pools as an "attractive complementary tuck-in," with opportunity to drive" geographic expansion alongside a similarly dealer-focused go-to-market strategy."
- The analyst says Latham is the market leader in categories beyond just fiberglass pools, with Radiant's position in vinyl-lined, aluminum-walled pools representing a "clear adjacency."
- Baird analyst Timothy Wojs raised the price target to $26 from $25 and maintained an Outperform rating on the shares.
- Wojs said the acquisition of Radiant Pools expands the company's offering into the above-ground and partially in-ground pool market, one that was previously not addressed.
- While analyst expects near-term EPS impacts to be modest, longer-term growth opportunities include the ability to expand Radiant's offerings geographically and cross-sales opportunities associated with SWIM's vinyl liners and accessories.
- Also read: Latham Acquires Radiant Pools For $90M.
- Price Action: SWIM shares are trading lower by 0.62% at $25.61 on the last check Wednesday.
Latest Ratings for SWIM
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Mar 2022 | Barclays | Maintains | Overweight | |
| Mar 2022 | Keybanc | Maintains | Overweight | |
| Mar 2022 | Morgan Stanley | Maintains | Equal-Weight |
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