Equity Research Focusing on the Consumer Sector, Small Cap Consumer Research

Small Cap Consumer Research

Equity research on small cap consumer names.

Equity Research Focusing on the Consumer Sector

Small Cap Consumer Research, LLC is a leading company-sponsored equity research provider focusing on the consumer sector (apparel, brand licensing and specialty retailing segments).

Equity Bottom-Up

<ul><li>We are reiterating our Buy rating, projections and $75 price target for Build-A-Bear Workshop with the company announcing 3QFY25 (October) results before the open on Thursday, December 4th.</li><li>We believe the company remains poised for strong 3Q results, and we believe Build-A-Bear remain one of the best situated retail plays for the Holiday season, with multiple potential upside drivers.</li><li>As such, and with BBW now down over 35% from its 52-week-high, we view the risk/reward in BBW, trading at 11.3X our FY26 EPS, as compelling and reiterate our Buy rating and $75 price target.</li></ul>

We are reiterating our Buy rating, projections and $75 price target for Build-A-Bear Workshop with the company announcing 3QFY25 (October) results before the open on Thursday, December 4th.We believe the company remains poised for strong 3Q results, and we believe Build-A-Bear remain one of the best situated retail plays for the Holiday season, with multiple potential upside drivers.As such, and with BBW now down over 35% from its 52-week-high, we view the risk/reward in BBW, trading at 11.3X our FY26 EPS, as compelling and reiterate our Buy rating and $75 price target.

BBW; 3Q Preview: Showing Why They Are Different; Reiterate Buy, $75 PT

Build A Bear Workshop

BBW; 3Q Preview: Showing Why They Are Different; Reiterate Buy, $75 PT