BellRing Brands initiated with a Buy at TD Cowen

TD Cowen initiated coverage of BellRing Brands with a Buy rating and $64 price target. The company is “uniquely positioned” to capitalize on rising consumer adoption of ready-to-drink shakes for weight management, the analyst tells investors in a research note. The firm believes the company will grow at a 13% annually for the next three years by expanding household penetration of its Premier brand and capacity. TD also views BellRing as one of the most attractive takeout candidates in the consumer personal goods space.