Westrock Coffee price target raised to $13 from $11 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Westrock Coffee to $13 from $11 and keeps an Outperform rating on the shares after Westrock announced a new joint venture with Select Milk Producers to build and operate a new extended shelf life and aseptic multi-serve bottling facility to help meet the needs of its coffee-based ready-to-drink and concentrate multi-serve formats. The firm is encouraged to see Westrock on track to open its Conway, AR facility in April and expand production over time, while it thinks the new JV should help the company expand into new products to cater to a broader group of customers.