As previously reported, Truist analyst Bill Chappell upgraded BellRing Brands (BRBR) to Buy from Hold with a price target of $40, up from $25. The analyst states that the firm’s prior caution was due to the overhang created by the Post Holding ownership (POST), but with that now gone and given the end to capacity constraints on the horizon, Truist believes that BellRing Brands can post upside to estimates and the stock can see multiple expansion over the next few quarters. The firm also contends that BellRing’s business momentum will be better appreciated by investors as many of its packaged food peers start to experience decelerating growth.
Published first on TheFly
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