2023-03-23 08:00:59 ET
BellRing Brands ( NYSE: BRBR ) broker higher in early trading on Thursday with an upgrade from Truist Securities ringing in its ears.
The firm lifted the nutrition products stock to a Buy rating from Hold on the expectation for multiple expansion with the Post Holdings ownership wildcard out of the way.
"Furthermore, we believe the business momentum will be better appreciated by investors as many of its packaged food peers start to experience decelerating growth," updated analyst William Chappell.
Truist hiked its price target on BellRing Brands ( BRBR ) to $40 from $25.
Shares of BellRing Brands ( BRBR ) rose 2.20% premarket to $30.65 vs. the 52-week trading range of $20.20 to $31.93.
Notably, BellRings Brands ( BRBR ) saw a two-notch Seeking Alpha Quant Rating upgrade on March 22 to Strong Buy from Hold.
For further details see:
BellRing Brands is on watch after Truist upgrade, two-notch SA Quant Rating lift