TD Cowen lowered the firm’s price target on Simply Good Foods (SMPL) to $24 from $34 and keeps a Hold rating on the shares. The firm noted guidance came in well below expectations and OWYN’s product quality issues raised concerns about the brand alienating consumers in the competitive RTD shake category. Quest guidance was also slightly worse than expected.
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Read More on SMPL:
- Hold Rating for Simply Good Foods Amid Market Skepticism and Brand Challenges
- Simply Good Foods Faces Challenges with Slower Growth and Quality Issues Leading to Hold Rating
- Simply Good Foods price target lowered to $32 from $38 at Stifel
- Simply Good Foods price target lowered to $23 from $27 at UBS
- Simply Good Foods price target lowered to $26 from $32 at Deutsche Bank