Post Holdings price target raised to $115 from $105 at Barclays

Barclays raised the firm’s price target on Post Holdings to $115 from $105 and keeps an Overweight rating on the shares. The company beat Barclays’ above-Street fiscal Q1 EBITDA forecast by 15% and flowed through only a bit more than this to its revised fiscal 2024 guidance, which suggests a “still reasonably conservative year to go outlook,” the analyst tells investors in a research note. Lower rates, lower leverage, and stronger than forecast operating results now cause Post Holdings to see “greater optionality than at almost any time” in its corporate history from a capital allocation standpoint, which sets up well with the company’s unique capital allocation approach, says the firm.