Simply Good Foods rises after multiple brokerages raise PT

The Simply Good Foods

06/01/2022 17:00

** Shares of Atkins protein bar maker  SMPL.O  rise as much
as ~5% to $40.70 after multiple brokerages raise price target
    ** Credit Suisse says co posted solid Q1 and its brands have
momentum, fueling topline growth above algorithm and co is well
ahead of peers
    ** SMPL's Q1 results on Jan. 5 beat sales and profit
estimates  urn:newsml:reuters.com:*:nASA02WUO
    ** Credit Suisse raises PT to $45 from $38, Morgan Stanley
lifts to $39 from $37 and Stifel raises to $44 from $42
    ** While Deutsche Bank lifts PT to $45 from $44, Bernstein
raises to $47 from $44 and Citigroup raises to $46 from $43  
    ** Credit Suisse also upgrades the stock to "outperform"
from "neutral"
    ** Stifel says its outlook on SMPL is based on acceleration
in long-term growth, driven by an increase in buy rate, new
users and increased household penetration 
    ** Nine of 12 brokerages rate the stock "buy" or higher and 
three "hold"; median PT of $44 - Refinitiv data
    ** Shares of SMPL gained ~33% last year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com;))