Vital Farms jumps as Morgan Stanley sees multiple tailwinds

Vital Farms

20/07/2022 14:45

** Food retailer Vital Farms Inc's shares  VITL.O  rise 12%
in early deals to $10.14 after Morgan Stanley raises to
"overweight" from "equal-weight"
    ** Shares gap-up to near seven-week highs, set for session
on record 
    ** MS says Vital is an under-appreciated growth story, cites
tailwinds such as premium price of co's eggs and consumer
preferences toward co's "specialty" eggs which are relatively
more affordabile vs. other proteins
    ** Also notes VITL's affluent consumer base and co's
distribution expansion and investment in innovation and
marketing 
    ** Says VITL's 50% YTD slide is an attractive entry point
    ** MS cuts PT by $3 to $12, which still represents a 25%
upside to median PT as per Refinitiv

 (Reporting by Susan Mathew)
 ((susan.mathew@thomsonreuters.com))