Truist analyst Jake Bartlett raised the firm’s price target on Karat Packaging to $26 from $25 and keeps a Buy rating on the shares. The company’s strong EBITDA beat in Q2 was largely driven by very low ocean freight rates, though its long-term margins have also structurally improved, driven by a shift away from manufacturing and an increasing eco-friendly sales mix, the analyst tells investors in a research note.
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