Jefferies thinks SharkNinja’s brand recognition can help the stock nearly double in value. The firm initiated coverage of SharkNinja with a buy rating on Monday with a $67 per-share price target. Jefferies’ forecast implies more than 91% upside from Friday’s $35.02 close. Shares of the company debuted last month. SharkNinja is the company behind the Ninja Blast blender and Shark vacuum cleaners. SN YTD mountain SharkNinja stock. Analyst Randal Konik highlighted the company’s growing market share and its “best-in-class” range of products, and said SharkNinja will broaden into other segments. “As SN continues to boost its presence in existing categories and disrupt new and adjacent ones through broadening price point positions and enhanced marketing, we believe it can significantly grow its market share position,” the analyst said. Konik also lauded SharkNinja’s “enviable” margins and free cash flow. “We expect SN to maintain and slightly improve its industry-leading margins through operating leverage,” the analyst said. “We have projected a substantial adj. EBITDA margin boost for F’23 (~235bps to 17%), primarily as a result of normalized gross margins (reaching 44%) supported by favorable freight.” — CNBC’s Michael Bloom contributed to this report.