Kawamoto said the stores are a great way to gain new customers by letting them touch and try on Duluth’s whimsically marketed accessories and clothing, “giving them more appreciation for the company’s unique innovations.” He rated the stock a “buy” and projected its price could reach $38 within 12 to 18 months.

More recently, D.A. Davidson analyst John Morris was a bit more cautious but still enthusiastic about the company in a December research note. He said Duluth’s management team is “top-notch” and has done “an exemplary job” managing rising labor and freight costs and investing in both retail and online sales options.

Morris said, though, he would like to see how well new technology systems perform and a more stable profit. Morris gave the stock a “neutral” rating with a $30 price target.

William Blair analyst Dylan Carden said Duluth shares are his “top pick for 2019” among the specialty retail stocks he follows. Carden said while the company’s costs have been high, he thinks a new inventory management system and a decreasing need to advertise will temper expenses over the next few years.

Exact Sciences flies high