Lifetime Brands Stock Receives Price Target Increase to $11.50 Lifetime Brands Stock Receives Price Target Increase to .50

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Monday, Brands for life (NASDAQ:), a provider of kitchenware and home solutions, received an increase in its price target from DA Davidson to $11.50, up from $9.50, while the company retained a buy rating on the stock.

This adjustment follows the results announced by the company for the fourth quarter of 2023, which exceeded expectations, notably noting a significant increase in international organic sales. This is the first year-over-year growth since the third quarter of 2021.

The company’s recent success has been attributed to its new international marketing strategy, which has proven effective in gaining market share. Additionally, Lifetime Brands is set to launch a new product line in collaboration with Dolly Parton, which will be distributed across Dollar General’s (NYSE:) extensive network of 20,000 stores.

DA Davidson expects Lifetime Brands to provide its 2024 financial guidance in May, as it usually does. The company increased its annual EBITDA estimates for the business, with projections for 2024 up 4% and 2025 up 6%. The new price target is based on a multiple of 6.5 times estimated EBITDA for 2025, which has been revised upwards from $62 million to $66 million.

DA Davidson analyst expressed confidence in the potential for Lifetime Brands’ stock valuation multiple to expand. This optimism is based on the company’s ability to maintain constant organic growth in its turnover. The introduction of the Dolly Parton line and the company’s international strategic moves were key factors in this positive outlook.

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