Hostess Brands (NASDAQ: TWNK) got a bullish rating today from Evercore ISI, along with a price target of $18 per share, over 40% higher than the company's stock value when the rating was given. Even after ending the day up at $13.64, the stock still has the potential for an approximate 32% rise, according to the research firm.
Evercore based its upbeat forecasts on multiple factors in Hostess' recent performance. These include high potential profits in its convenience and snack food sectors once the coronavirus pandemic abates, fast growth in revenue, and good execution with the integration of the Voortman cookie business. Evercore says Hostess stands to possibly gain even more than its projected $40 million to $50 million in fiscal 2022 synergy benefits.
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Hostess Brands Wins a Rare 40% Upside Endorsement