Westrock Coffee price target lowered to $11 from $14 at Telsey Advisory

Telsey Advisory analyst Sarang Vora lowered the firm’s price target on Westrock Coffee to $11 from $14 and keeps an Outperform rating on the shares. Westrock’s Q3 earnings came in below expectations, primarily due to lower coffee commodity prices, weak demand for roast and ground coffee and higher costs, resulting in the company lowering its 2023 outlook. While “disappointed” by the softer Q3 results, the firm continues to believe that Westrock is in the early stages of multi-year sales and profit growth.