RV Holdings Accelerate; PayPal Makes India Move
Brunswick (NYSE: BC) was initiated with a buy rating by brokerage firm CL King. The firm’s price target is $65, slightly lower than my $67 target. We won’t get any updates from the company until its fourth quarter earnings release in late January.
Winnebago Industries, who is a supplier of RV’s to our Camping World Holdings (NYSE: CWH) and a customer of Patrick Industries (NSDQ: PATK) reported a better than expected quarter on Dec. 21. Although sales of Winnebago’s motorized RV’s were down, management noted a jump in registrations and backlog, both good omens for future strength. Its towable business was up 52% and almost tripled including the company’s acquisition of the towable brand Grand Design.
Integrated Device Technology (NSDQ: IDTI) was initiated with a positive rating, the firm’s title for a buy rating, by brokerage firm Susquehanna. The firm’s price target is $30, 11% higher than my target.
PayPal (PYPL): Industry website LiveMint reported that PayPal is likely to take a minority stake in Indian digital payments platform Freecharge. Freecharge is India’s number one payments app which allows consumers to pay utility bills, online and in store purchases and metrocards with their mobile phones. The company’s Chat-n-Pay service is a person to person payment system similar to PayPal’s U.S. based Venmo service.
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