BellRing Brands price target raised to $40 from $35 at Needham

Needham analyst Matt McGinley raised the firm’s price target on BellRing Brands to $40 from $35 and keeps a Buy rating on the shares ahead of its Q2 results. The quarter should see the benefit of high teens pricing growth and low-single-digit volume gains on Premier, the analyst tells investors in a research note, adding that while half of the pricing will roll off in the second half of the year, manufacturing capacity addition should drive strong volume gains through the remainder of FY23 and into FY24.