Shaun Currie, CFA
Long/short equity, hedge fund analyst, momentum

Cabela's Inc.: Growth + Value = 50% Upside

Cabela's Inc. (NYSE:CAB) has had quite an impressive run over the past 4 years (the stock is up over 500% since the beginning of 2009). Because of this run, some investors might question whether there is any gas left in the tank for another run. I will argue that there is indeed much more room to run, and the gas needed will come from an aggressive real estate expansion starting in 2014. For those of you that are value investors, you need not worry. The company's assets, specifically its credit card business, provide support for a valuation at least 50% higher than its current stock price. Let's get into the details of the "growth plus value" story.

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