Vita Coco price target raised to $18 from $16 at Evercore ISI

Evercore ISI raised the firm’s price target on Vita Coco to $18 from $16 and keeps an Outperform rating on the shares. The company’s stronger than expected gross margin expansion drives 2023 EBITDA guidance about 15% above Street estimates coming into the report, which overshadows the "weak" Q4 results, the analyst tells investors.