Vital Farms price target raised to $18 from $16 at Goldman Sachs

Goldman Sachs analyst Adam Samuelson raised the firm’s price target on Vital Farms to $18 from $16 and keeps a Neutral rating on the shares. The company’s Q4 results revealed broad-based strength across the business, with better-than-expected topline performance and higher gross margin driving EBITDA above consensus expectations, the analyst tells investors in a research note. Vital Farms management highlighted growth in higher priced SKU’s serving as another source of upside in the quarter, with strength in shell eggs more-than-offsetting a 28% decline in butter sales, the firm added.