This toy retailer could see nearly 50% upside as it successfully caters to older demographics, expands store locations and grows its brand image.
Build-A-Bear Workshop is set to win as adults get around to the fact that toys aren't just for kids anymore, according to DA Davidson. Analyst Michael Baker initiated coverage of the toy retailer earlier this week with a buy rating. His price target of $42 signals a potential upside of 48% from the stock's $28.46 close on Wednesday.
" BBW YTD mountain BBW ytd chart Build-A-Bear also caters to older demographics, with teens and adults responsible for over 40% of sales in 2022 owing to numerous collectibles and licensing agreements, Baker noted. He added that since its inception in 1997, the company has successfully expanded its brand image to beyond that of a teddy bear mall retail store.