Gunmaker Smith & Wesson Rallies to Reverse Drop as RBC Says Buy

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Smith & Wesson Holding Corp. shares rallied, reversing an earlier decline, after RBC Capital Markets raised its rating on the stock.

RBC analyst Steven Cahall boosted his recommendation to outperform from sector perform and increased his target price to $21.

Smith & Wesson rose 0.5 percent to $16.18 at the close in New York. The shares are up 71 percent this year, compared with a 2.5 percent increase on the Standard & Poor’s 500 Index.

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