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Barclays Sticks to Its Buy Rating for Sovos Brands (SOVO)

Barclays analyst Andrew Lazar maintained a Buy rating on Sovos Brands (SOVOResearch Report) on February 28 and set a price target of $16.00. The company’s shares closed last Tuesday at $12.30.

According to TipRanks.com, Lazar is a 4-star analyst with an average return of 4.9% and a 58.3% success rate. Lazar covers the Consumer Goods sector, focusing on stocks such as Mondelez International, Lamb Weston Holdings, and McCormick & Company.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Sovos Brands with a $16.00 average price target, implying a 30.7% upside from current levels. In a report issued on February 28, J.P. Morgan also maintained a Buy rating on the stock with a $16.00 price target.

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Sovos Brands Inc is a food company in the United States. Its brands are Rao’s, noosa, Birch Benders, and Michael Angelo’s. Its Rao’s products include our Rao’s Homemade pasta sauces (including tomato-based sauces, Alfredo sauces, and Pesto sauces), pizza sauces, and dry pasta; Rao’s Homestyle meat-based pasta sauces; and Rao’s Made for Home frozen entrees and soups.

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