Citigroup upgraded Columbia Sportswear (COLM
) to buy from hold, citing steps the management has taken to position the company over the next 12 to 18 months.
Analyst Kate McShane says its footwear prospects look solid, at the same time its outerwear and sportswear have improved significantly. She says this should bode well for winter 2006 sales. She also thinks the company is holding its own against The North Face. She raises her stock price $52 target to $64.