Stephens analyst Jim Salera initiated coverage of Vita Coco with an Equal Weight rating and $30 price target. The company is a category leader in the coconut water category, and the coconut water’s wide range of use occasions gives COCO an enviable number of levers to pull to drive household penetration growth, the analyst tells investors in a research note. Vita Coco also has a unique global supply chain that is both asset light and difficult to replicate, the firm adds. Stephens notes however that the strong performance of shares year-to-date leaves the risk/reward setup balanced.
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Published first on TheFly
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