Several top investment firms initiated coverage of Gander Mountain this week, including Piper Jaffray, Bank of America and William Blair & Co. the firm that floated the outdoor retailers IPO. The company received high marks from all analysts, who cited GMTNs aggressive store growth, and its guidance for 35% EPS gains as the foundations for their recommendations.
Piper Jaffray expects GMTNs “robust same-store sales” through Q2 & Q3 to considerably boost the companys stock performance in the near term. EPS are estimated for 2005 at 86 cents, and are expected to increase 45% to $1.25 in 2006. That would bring net income to 1.5 million in 2005, and $2.1 million in 2006.
