Lake Street raised the firm’s price target on Vital Farms to $45 from $32 and keeps a Buy rating on the shares after the company reported what the analyst called “the most significant quarterly beat we have seen in years.” The firm had believed FY23 was “a step change to a solid but more normalized FY24,” but says “it instead appears FY24 may be yet another step change” as it materially increases its forward estimates.
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