Vita Coco price target lowered to $30 from $33 at Jefferies

Jefferies lowered the firm’s price target on Vita Coco to $30 from $33 and keeps a Buy rating on the shares. Shares have struggled recently due to rising ocean freight rates, notes the analyst, who thinks margins won’t compress to the same degree as seen due to supply shocks in 2021-22, but expects some pressure over the near term. The firm updated its model to reflect recent gross margin pressures and a slightly more prolonged margin story, the analyst noted.