BellRing Brands (BRBR) PT Lowered to $80 at Citi

Citi analyst Thomas Palmer lowered the price target on BellRing Brands (NYSE: BRBR) to $80.00 (from $90.00) while maintaining a Buy rating.

The analyst comments "BRBR shares fell 19% on May 6 after a 2Q25 sales beat but only reiterated FY25 guidance and disclosing of 3Q sales headwinds from inventory cuts at a key club customer (initial take). Heading into 2Q earnings, expectations were lofty. BRBR remained the rare crowded long in staples. Beat-and-raise quarters had been the norm in the past couple of years. We appreciate that rapid unwind of this sentiment (and the destocking surprise) could present a lingering overhang on the share price. But we do not think a sell-off this magnitude is warranted by fundamentals. We came away from our follow-up call with management incrementally more comfortable that the destock does not signal demand erosion for Premier shakes nor looming shelf space cuts. As a result, sales growth could reaccelerate in 4Q25 (perhaps to a higher level than expected a quarter ago)."

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