Simply Good Foods price target lowered to $40 from $50 at Mizuho

Mizuho lowered the firm’s price target on Simply Good Foods to $40 from $50 and keeps a Buy rating on the shares. The analyst says the year-to-date weakness in the shares already discounted the fiscal 2024 guidance reduction delivered with the Q2 report. The firm believes continued momentum at Quest and favorable input costs limit downside to numbers. While the Atkins drag also likely limits the scope of immediate stock recovery, the stock’s risk/reward remains positive as recovery plans take root, the analyst tells investors in a research note.