Oppenheimer boosts its price target on SodaStream to $85
As Oppenheimer boosts its price target on SodaStream (SODA) to $85 from $68, the investment bank notes its discussions with retailers reveal "machine sales remain healthy" and "a number of retailers are seeing an uptick in consumables sales," showing consumers aren't using the in-home soda maker for just a short time. That as it was announced Monday that Whirlpool's (WHR) KitchenAid brand is developing its own soda machine with SODA which should be available for the holidays. That should further boost SODA's consumable sales, which have higher margins, and Oppenheimer says the KitchenAid move "further establishes SODA's position as the partner of choice in this burgeoning category." It closed Monday at $71.02 and has surged 58% this year.