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Barclays, Baird Raise Latham Price Target Complementing Radiant Pools Acquisition

Barclays, Baird Raise Latham Price Target Complementing Radiant Pools Acquisition



Barclays analyst Matthew Bouley raised the price target on Latham Group Inc (NASDAQ:SWIM) to $30 (an upside of 17%) from $26 and maintained an Overweight rating on the shares.




Bouley views the acquisition of Radiant Pools as an "attractive complementary tuck-in," with opportunity to drive" geographic expansion alongside a similarly dealer-focused go-to-market strategy."




The analyst says Latham is the market leader in categories beyond just fiberglass pools, with Radiant's position in vinyl-lined, aluminum-walled pools representing a "clear adjacency."




Baird analyst Timothy Wojs raised the price target to $26 from $25 and maintained an Outperform rating on the shares.




Wojs said the acquisition of Radiant Pools expands the company's offering into the above-ground and partially in-ground pool market, one that was previously not addressed.




While analyst expects near-term EPS impacts to be modest, longer-term growth opportunities include the ability to expand Radiant's offerings geographically and cross-sales opportunities associated with SWIM's vinyl liners and accessories.




Also read: Latham Acquires Radiant Pools For $90M.




Price Action: SWIM shares are trading lower by 0.62% at $25.61 on the last check Wednesday.
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