BRBR - BellRing Brands attracts bullish attention from analysts

Multiple analysts authored Buy-equivalent initiations on BellRing Brands ( NYSE: BRBR ) on Wednesday.

The initiations, from Cowen and Needham, each rated the stock a Buy as both firms’ analysts voiced optimism on the nutrition-focused offerings available at BellRing ( BRBR ).

“We find active nutrition shakes to be the most attractive growth pocket within snacking, informed by return to exercise and participation from younger cohorts, and mindful the segment is underpenetrated vis-a-vis bars,” Cowen explained. “We also think BRBR stands out as an M&A Target.”

Cowen assigned the stock a $31 price target alongside the Outperform rating.

Similarly, Needham & Company analyst Matt McGinley assigned the stock a $32 price target and Buy rating. He echoed much of Cowen’s commentary, adding that “an asset light model that produces strong cash flow to fund M&A, debt paydown and buybacks” increases his bullishness on the name.

Shares of the St. Louis-based nutrition products provider rose 2.75% shortly after the market open on Wednesday.

Read more on the brand’s spinoff from Post .

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