Smith & Wesson Holding rises on analyst upgrade
Smith & Wesson Holding Corp. (Nasdaq: SWHC) shares are rising after Susquehanna Financial Group initiated coverage on the gun maker with a “positive” rating. Analyst Cheryl Cortez said the company’s sales will rise as it releases new products and books more military orders.
"Smith & Wesson has recently launched its bolt-action rifles and has many other products in the pipeline," Cortez wrote in a note to investors. "New products are expected to gain popularity and wide market acceptance on the back of Smith & Wesson's strong brand name."
The Springfield, Mass.-based company recently launched a new line of bolt-action rifles and other new hunting rifles, Cortez said.
At closing, SWHC shares were up 11.84%, or $0.61, at $5.76. Over the last 52 weeks, shares have ranged from $4.79 to $22.80.
