Simply Good Foods initiated with a Market Perform at Cowen

Cowen analyst Brian Holland initiated coverage of Simply Good Foods with a Market Perform rating and $42 price target. The stock is most correlated with the company’s Atkins brand, where he expects continued pressure to directionally impact growth in the near-term, said Holland. With the stock trading in line with trailing five-year relative valuation and the compan lapping prior year inventory builds that he does not believe are fully factored into consensus, he sees the risk-reward as "less compelling here," Holland tells investors.