SodaStream (SODA) Stock Price Target Raised at Jefferies

NEW YORK (TheStreet) -- SodaStream's (SODA) - Get Report stock price target was increased to $17 from $15 at Jefferies. The firm has a "hold" rating on the stock.

The new price target comes after the sparkling water company posted strong results for the 2016 first quarter yesterday.

The Israel-based company reported earnings of 40 cents per share, topping analysts' estimates of 11 cents per share. Revenue climbed by 9.6% to $100.9 million, above estimates of $89 million.

"Although sales growth trends are starting to head in the right direction, it is too early to predict the sustainability of the sales growth and the company's sparkling water growth strategy. As such, we prefer to remain on the side-lines for now," the firm wrote in a note.

Additionally, the company's management also announced that Doug Pritchard, who was responsible for a quick turnaround in the Canada business, has been appointed president of the U.S. business, Jefferies said.

Shares of SodaStream closed at $18.53 on Wednesday.

Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins.

However, the team also finds weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: SODA