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.
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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.
