Shares of Krispy Kreme (NASDAQ:DNUT) soared today, which may be attributed to an analyst upgrade. Indeed, Bill Chappell of Truist changed his rating on the stock from Hold to Buy.
Chappell believes that Krispy Kreme will “post meaningful volume growth in 2023.” He points to accelerating growth internationally, along with the company’s partnership with McDonald’s (NYSE:MCD), as the catalysts that will make this happen.
Taking a look at the last five trading days, it’s easy to see how the impact that today’s news had on DNUT stock. Although shares were on a slight uptrend, they were mostly moving sideways until today’s jump. As a result, investors are up over 11% during this timeframe.
