Needham analyst Matt McGinley raised the firm’s price target on BellRing Brands to $35 from $32 and keeps a Buy rating on the shares after its Q1 earnings beat. FY23 is shaping up to be a year of outsized topline growth and cash flow generation driven by pricing and manufacturing capacity addition, the analyst tells investors in a research note. The firm adds that BellRing sales should increase sequentially in every quarter through FY23, though margins should move lower from Q1 peak as marketing and promotion resumes with better supply.
Published first on TheFly
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Read More on BRBR:
- BellRing Brands Reports Results for the First Quarter of Fiscal Year 2023; Raises Certain Fiscal Year 2023 Outlook
- BellRing Brands backs FY23 revenue view $1.56B-$1.64B, consensus $1.59B
- BellRing Brands reports Q1 adjusted EPS 33c, consensus 27c
- BellRing Brands Schedules First Quarter Fiscal Year 2023 Conference Call
- Hershey downgraded to In Line from Outperform at Evercore ISI
