COCO - Vita Coco shares could double in coming years Craig Hallum says
2023-04-05 09:31:28 ET
Craig Hallum analyst Eric Des Lauriers started coverage of Vita Coco ( NASDAQ: COCO ) at Buy on Wednesday given a strong supply chain and positive dynamics for the coconut water category.
“Through first mover advantage the company has cornered the coconut water category through a unique asset-light yet exclusive supply chain,” he wrote. “We view this supply chain as a widening economic moat that has helped the company generate 40%+ ROIC.”
Des Lauriers initiated coverage of the stock at Buy with a $25 price target. He added that he sees “room for COCO to double in the coming years.”
Vita Coco ( COCO ) stock rose about 2% shortly after the market open on Wednesday.
Read more on the company’s latest earnings results .
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Vita Coco shares could double in coming years, Craig Hallum says