This dude from Deutsche is my man -- increasing his valuation from 160 to 265 .... he is on to it but didn't have too many clues a few months ago ... obviously a man who goes with what he reads in the paper and has no belief in his own fantastic strategic thinking ... like if he believes KMD has a 'proven track record of opening stores' and that the 'store roll out is likely to provide a buffer for any potentialmacrooeconomic headwinds' why was it a hold at 160 ... should have been a raving buy. Must get my hands on the full report

Anyway with all these analyst upgardes the price should continue to go up .... eh

http://www.theaustralian.com.au/busi...-1225991951417

ANALYSTS have upgraded or maintained their buy recommendation on outdoor clothing and camping retailer Kathmandu, which defied the retail downturn with a profit upgrade following strong sales over Christmas and New Year.

Deutsche Bank upgraded its recommendation from "hold' to "buy" and increased its price target from $NZ1.60 ($1.23) per share to $NZ2.65.

"Growth from Kathmandu's store rollout is likely to provide a buffer to any potential macroeconomic headwinds and rising cost pressures," it said.

"Kathmandu has a proven track record of opening stores and we are forecasting 15 new stores in each of 2011, 2012 and 2013. The risk here is cannibalisation, which reduced comparable store sales by 1.1 per cent in 2010," analyst Alexi Baker-McLennan said.