Analyst: Smith & Wesson Brands Stock Has 48% More Upside

Smith & Wesson Brands (NASDAQ: SWBI) recently spun off its outdoor recreation business to focus on its firearms business. Aegis analyst Rommel Dionisio initiated coverage of Smith & Wesson with a buy rating, and set a target price for its stock at $23 per share, some 48% above its close on Wednesday. Dionisio wrote Smith & Wesson should benefit from the increased demand in firearms due to a desire for protection as civil unrest persists in major cities and calls to defund police departments gain traction in certain regions, Thefly.com reports.