Piper Sandler raised the firm’s price target on Vita Coco to $28 from $24 and keeps an Overweight rating on the shares. The firm continues to believe the Vita Coco brand has a long runway of growth, and that it can continue to gain share of total refreshment beverages. Freight costs look manageable and have already begun to ease just a bit from recent peak levels.
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Read More on COCO:
- Vita Coco sees 2024 net sales $495M-$505M, consensus $503.27M
- Vita Coco reports Q4 EPS 11c, consensus 8c
- The Vita Coco Company Reports Fourth Quarter and Full Year 2023 Financial Results
- Vita Coco price target lowered to $30 from $33 at Jefferies
- The Vita Coco Company to Report Fourth Quarter and Full Year 2023 Financial Results on February 28, 2024