In a report released today, Robert Moskow from TD Cowen maintained a Buy rating on Vital Farms, with a price target of $59.00.
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Robert Moskow has given his Buy rating due to a combination of factors that highlight Vital Farms’ strong growth potential and strategic initiatives. The company’s ambitious capacity expansion plans are on track, with significant developments at their Springfield facility and a new location in Seymour, Indiana. This expansion is expected to significantly increase their production capabilities, supporting their sales growth target of $1.8 billion by 2030.
Additionally, Vital Farms has demonstrated a strong ability to maintain consumer loyalty despite price increases, with volume growth remaining robust. The company’s strategic relationships with independent farmers provide a competitive edge in securing a reliable supply chain, crucial for scaling operations nationally. Furthermore, the recent acceleration in distribution growth, following capacity constraints, indicates a positive trajectory for future market penetration, underpinning the positive outlook reflected in Moskow’s Buy rating.
In another report released on September 15, Lake Street also maintained a Buy rating on the stock with a $60.00 price target.
Based on the recent corporate insider activity of 101 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VITL in relation to earlier this year.