Vita Coco price target lowered to $31 from $35 at Piper Sandler

Piper Sandler lowered the firm’s price target on Vita Coco to $31 from $35 and keeps an Overweight rating on the shares. Attacks on multiple container vessels have hiked global ocean freight rates, including Coco’s key routes from Asia to the U.S. East Coast and U.S. West Coast, the firm notes.