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Strategies & Market Trends : The New Economy and its Winners

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To: Bill Harmond who wrote (39179)1/22/2008 1:22:08 PM
From: Bill Harmond  Read Replies (2) of 57684
 
12:23 SWHC Smith & Wesson downgraded to Market Perform at Northland - tgt cut to $4 (4.21 -0.82) -Update-

Northland downgrades the company to Market Perform from Outperform and cut its tgt to $4 from $12 after SWHC removed its guidance and indicated an uncertain business environment. Firm says recent retail channel checks indicate mixed levels of consumer demand. It appears that the more affluent mkts are performing in-line with expectations, while stores in low-end mkts are struggling and the rest in the middle are somewhat slow. Skyrocketing prices of ammunition have likely reduced store traffic, gun range activity and handgun demand. Firm believe sinventories are high at the distributor level, possibly leading to reduced ordering activity.
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