Benchmark starts DDC Enterprise at Buy with $8 price target

As previously reported, Benchmark initiated coverage of DDC Enterprise with a Buy rating and $8 price target. The firm’s positive views on the consumer brand company providing ready-to-heat, ready-to-cook, and ready-to-eat plant-based meal products are based on a belief that the RTE industry in China is at an onset of a multi-year growth trajectory and that DDC is poised to reap the benefit of high growth in the next three to five years, the analyst tells investors. M&A to open up new market opportunities adds “another dimension of growth and profitability contribution,” the analyst added.