BRBR - BellRing Brands started at Buy by William Blair
2023-04-26 07:42:42 ET
BellRing Brands ( NYSE: BRBR ) was started at an Outperform rating by William Blair on Wednesday as the firm’s analysts advised the company should be a market leader in nutrition.
“The convenient nutrition market is large and poised for continued growth given consumers’ pursuit of active lifestyles, awareness of the benefits of protein, and interest in snacking,” equity analyst Jon Andersen wrote. “The U.S. retail channels measured by IRI data in which BellRing operates have a combined value of roughly $9B and have grown at a four-year compound annual rate in the high single digits, weighted for BellRing’s business mix.”
Andersen added that the company has an attractive portfolio and “superior growth potential” in its target market.
“During the next two years, we project BellRing to grow sales and EBITDA at compound annual rates in the midteens,” Andersen said. “Moreover, BellRing operates a cash generative business and possesses a solid financial profile with declining leverage.”
The sell-side consensus on the stock is a Strong Buy .
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BellRing Brands started at Buy by William Blair