2025-06-02-Jefferies-在您闲暇时_SharkNinja推出FrostVault_Go_8页_126kb

Equity Research Summary

This report covers the Lifestyle & Growth Platforms sector, highlighting key developments and company-specific research.

Key Insights in Overview:

1. Tariff Talk: Retailers aim to avoid price hikes as alternatives
2. SharkNinja FrostVault Go: Premium portable cooler priced at $249.99
3. Helly Hansen Expansion: Opened a new 3,000 sqft store in Denver, CO
4. Earnings Recap: DKS showed strong performance

Company Specific Research (Covers BBY, COST, DKS, SN)

1. BBY (Best Buy)

   • Target Price: $88
   • Slight premium to 5-year averages
   • Risks: maturing cycles, competition, consumer spending

2. COST (Costco)

   • Target based on ~59x FY2 P/E
   • Risks: inflation, digital competition

3. DKS (Dick's Sporting Goods)

   • Target price -$186
   • Premium compared to peers
   • Upside: competition ease, participation growth
   • Downside: intensifying competition, participation deceleration

4. SN (SharkNinja)

   • Target price -$175
   • Based on ~19x F'26E EV/EBITDA
   • Risks: supply chain disruption, economic weakness

Valuation & Ratings

• BBY: BUY
• COST: BUY
• DKS: HOLD
• SN: BUY

Ratings History

• All Companies: Various buy/sell ratings updated over the past three years.

For specific disclosures related to ratings, please refer to pages 2-8 of the report.