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Benzinga
Benzinga
Business
Shivani Kumaresan

Goldman Sachs Turns Bullish On Leslie's - Read Why

LESL Goldman Sachs Nasdaq Alphabet Inc
  • Goldman Sachs analyst Kate McShane upgraded Leslie’s Inc (NASDAQ:LESL) to Buy from Neutral with a price target of $27, up from $26, implying a 29.4% upside.
  • McShane predicts the sales growth to continue, given the maintenance of a larger pool base, management execution in Pro and acquisitions, and a lift from solid migration trends.
  • The analyst expects demand to pick up compared to pre-pandemic levels based on app downloads and Alphabet Inc (NASDAQ:GOOGL) Google search interest.
  • McShane also forecasts the company to have a higher gross margin and continued double-digit EBITDA growth in 2022 and 2023.
  • The retailer raised its FY22 sales outlook to $1.495 billion - $1.52 billion from $1.475 billion - $1.50 billion versus the consensus of $1.50 billion.
  • Price Action: LESL shares are trading higher by 3.67% at $20.89 on the last check Monday.
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