DA Davidson initiated coverage of Vital Farms with a Buy rating and $21 price target. The quality of the company’s growth, evidenced by a two year sales stack that has held steady through COVID-19, avian influenza, and more recently broader volume softness across Food, has been highly underappreciated by the market, the analyst tells investors in a research note. The firm adds that despite playing in a volatile category, Vital’s velocity growth is comparable to publicly traded Food peers in value added categories, which is underscoring the company’s brand’s traction, validating its considerable whitespace opportunity, and highlighting the stock’s “sharp valuation disconnect”.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on VITL:
- Vital Farms management to meet with Lake Street
- Laying a Model for Sustainable Food Processing: Vital Farms’ Egg Central Station Honored as FOOD ENGINEERING’s 2023 Sustainable Plant of the Year
- Vital Farms Reports Third Quarter 2023 Financial Results
- Vital Farms expects to generate net revenue over $1B by end of 2027
- Vital Farms sees 2023 net revenue over $465M, consensus $468.54M