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Benzinga
Benzinga
Business
Shivani Kumaresan

Citi Turns Bullish On This Direct-To-Consumer Platform For Lifestyle Brands

  • Citi analyst Wendy Nicholson upgraded Solo Brands Inc (NYSE:DTC) to Buy from Neutral with a price target of $20, up from $17, implying a 24% upside.
  • The analyst noted that the stock had pulled back about 30% since reaching its post-IPO high in mid-November.
  • While the analyst still has concerns regarding the company's sales and margins that were pulled forward by COVID, its risk-reward profile has "shifted" as valuation became "much less demanding."
  • Related Content: Solo Brands Stock Jumps After Raising FY21 Outlook
  • Solo Brands is a Direct-To-Consumer (DTC) platform. It operates four premium outdoor lifestyle brands Solo Stove, Oru, ISLE, and Chubbies apparel.
  • Price Action: DTC shares are trading higher by 3.94% at $16.36 on the last check Wednesday.
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