Sovos Brands price target raised to $23 from $22 at Barclays

Barclays analyst Lauren Lieberman raised the firm’s price target on Sovos Brands to $23 from $22 and keeps an Overweight rating on the shares. Based on “conservative” assumptions on distribution, penetration, and buy rate, the analyst has increased confidence in Sovos’ ability to deliver on its high-single-digit year-over-year organic sales growth target through at least 2026.