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Positive ratings pour in on BellRing Brands

Nov. 11, 2019 8:47 AM ETPOST, BRBRBy: Clark Schultz, SA News Editor1 Comment
  • Analyst coverage launches on BellRing Brands (NYSE:BRBR) about 30 days after the company spun off from Post Holdings (NYSE:POST).
  • Bullish ratings are in from Wells Fargo (Outperform, $23 price target), Evercore ISI (Outperform, $21 PT), Goldman Sachs (Buy, $24 PT), Barclays (Overweight, $22 PT), Stifel ($Buy, $21 PT) and Morgan Stanley (Overweight, $21 PT). Firms leaning to the cautious side include Bank of America Merrill (Neutral, $19 PT) and SunTrust (Hold, $20 PT).
  • "We see a company poised to benefit from structural nutritional industry tailwinds as U.S. consumers increasingly pursue dietary health & wellness," notes Wells Fargo analyst John Baumgartner. He says that consumer preferences for low-carb, low-sugar, high-protein products are strongly aligned with BRBR's portfolio.
  • BellRing trades flat at $18.25 in premarket action after the IPO was priced last month at $14 per share.

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