QQQ
+ 0.00
387.12
+ 0%
BTC/USD
-734.79
56449.28
-1.28%
DIA
+ 0.00
340.46
+ 0%
SPY
+ 0.04
450.46
+ 0.01%
TLT
+ 0.00
152.34
+ 0%
GLD
+ 0.05
166.11
+ 0.03%

Analysts See Upto 34% Upside In Sovos Brands

October 18, 2021 9:19 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Analysts See Upto 34% Upside In Sovos Brands
  • Goldman Sachs analyst Jason English initiated coverage of Sovos Brands Inc (NASDAQ:SOVO) with a Buy rating and $19 price target, suggesting a 34% upside.
  • The analyst sees a "compelling distribution and product-cycle fueled growth story" from the company over the next three years.
  • Jason expects "top-tier organic revenue growth" of 10% and EBITDA growth of 15% through fiscal 2024, adding that the growth is underappreciated by the market at the stock's current valuation level.
  • Telsey Advisory initiated coverage of Sovos Brands with an Outperform rating and $17 price target implying a 20% upside.
  • JPMorgan analyst Ken Goldman initiated coverage of Sovos Brands with an Overweight rating and $17 price target, implying a 20% upside.
  • William Blair analyst Jon Andersen initiated coverage with an Outperform rating.
  • Loop Capital analyst Alton Stump initiated coverage with a Buy rating and $20 price target, suggesting 41% upside.
  • Stifel analyst Christopher Growe initiated a Buy rating, $17 price target, implying 20% upside. The analyst noted that Sovos' strong, fast growing brands can sustain high single digit sales growth for "the foreseeable future."
  • Cowen analyst Brian Holland initiated coverage of Sovos Brands with an Outperform rating, $20 price target, suggesting an upside of 41%.
  • Credit Suisse analyst Robert Moskow initiated coverage with an Outperform rating, $17 price target, implying 20% upside. The analyst believes the valuation multiple of the stock will move higher as the market gets to know the company better.
  • Piper Sandler analyst Michael Lavery initiated coverage with an Overweight rating, $17 price target, suggesting a 20% upside.
  • BofA initiated coverage of Sovos Brands with a Buy rating and $19 price target implying a 34% upside.
  • Price Action: SOVO shares are trading higher by 2.33% at $14.5 in premarket on the last check Monday.

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to Benzinga Podcasts and our YouTube channel.


Related Articles

UPDATE: Telsey Advisory Group On Sovos Outperform Initiation: Firm Sees Co. 'In Early Stages Of Multi-Year Organic Growth' Driven By Future Acquisitions; Highlights TAM Increase To $53B Since $12B At Original Time Of Acquisitions In FY17