Westrock Coffee price target lowered to $11 from $13 at Stifel

Stifel lowered the firm’s price target on Westrock Coffee to $11 from $13 and keeps a Buy rating on the shares. The underperformance in Q3 was drive by softness in the hot coffee portion of the company, which was driven by weak consumption, the analyst tells investors. While the results for both the quarter and 2023 overall are disappointing, the outlook for the Conway plant remains on track and is expected to be in operation in Q2, the firm says.