- 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.