BIRK stock is rising alongside new analyst coverage
By William White, InvestorPlace Writer Nov 6, 2023, 10:37 am EST
- Birkenstock (BIRK) stock is a hot topic as analysts kick off coverage today.
- That includes Goldman Sachs with a “buy” rating for the shares.
- Citi also set a $52 price target for BIRK stock.
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Birkenstock (NYSE:BIRK) stock is a hot topic among traders on Monday as investors react to new coverage of the stock from Goldman Sachs.
Goldman Sachs initiated coverage of BIRK stock with a “buy” rating. That bullish rating is exciting investors, as analysts have maintained a quiet period on Birkenstock until today. That is due to BIRK only going public last month.
In fact, Goldman Sachs isn’t the only firm that has kicked off coverage of BIRK stock today. Several major analysts are offering insight into the company, with 22 of them initiating coverage of Birkenstock on Monday.
BIRK Stock Analyst Ratings
Analysts have largely been bullish on BIRK stock with today’s new coverage. That also comes with some hefty price targets for the company’s shares.
For example, Citigroup set a high $52 per share price target on BIRK while Jefferies was just behind it with a $50 per share price target. For the record, the company’s stock closed out trading on Friday at $41.16 per share.
Despite all the new ratings, BIRK stock isn’t seeing too much movement today. As of this writing, about 200,000 shares have changed hands. For the record, its daily average trading volume is about 2.5 million shares.
BIRK stock is up slightly as of Monday morning.
Investors can find more of the most recent stock market news ready to go below!
We’re offering up all of the biggest stock market stories that traders are going to want to read about on Monday! A few examples of that include what’s happening with shares of Beyond (NYSE:BYON), WeWork (NYSE:WE) and RiskOn International (NASDAQ:ROI) stock today. All of that news is ready to go at the following links!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Article printed from InvestorPlace Media, https://investorplace.com/2023/11/birk-stock-alert-goldman-sachs-is-pounding-the-table-on-birkenstock/.
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