Lake Street raised the firm’s price target on Vital Farms to $45 from $32 and keeps a Buy rating on the shares. Vital Farms report a significant quarterly beat, as hgh-teen volume growth persists, demand remains inelastic, the brand is only increasing its category dominance, and free cash flow generation and the balance sheet are “exceptional,” the analyst tells investors in a research note. It appears FY24 may be yet another step change, the firm argues.
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