SodaStream International Ltd. (NASDAQ: SODA) remains a bit of a cult stock, and it is down significantly from its highs. Now we have a Wall Street research report calling it a Buy.
KeyBack Capital Markets has initiated coverage with a Buy rating and a whopping price target of $70 for the stock. This sounds overly bullish when you consider that shares were at $48.42 yesterday, but amazingly it is in the middle of the pack.
SodaStream’s 52-week high is $77.80, and the consensus analyst price target is actually up at $76.63. It even appears as though the highest price target is still up at $100 for the stock. The upgrade is helping to boost shares by almost 6% to $51.25, in part because the 52-week low is only $45.25.
One issue to point out is that even with the pullback, SodaStream is still worth just over $1 billion. That was the case before this positive analyst rating as well.
SodaStream trades just under 1 million shares on an average day, but the stock remains heavily shorted by short sellers. The mid-December short interest was listed as 8.477 million shares.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
