Jefferies Starts Amplify Snack Brands (BETR) at Buy

Jefferies initiates coverage on Amplify Snack Brands (NYSE: BETR) with a Buy rating and a price target of $18.00.

Analyst Mark Wiltamuth commented, "Riding "better-for-you" snack demand and growing market penetration for its SkinnyPop popcorn, we estimate 20% earnings growth for Amplify through 2020. Featuring an asset light business model, we expect Amplify's free cash will go towards building a "better-for-you" snacking platform. Given scarcity of growth in the packaged food industry, we believe Amplify can support a premium valuation. Our $18 price target assumes 15x EV/EBITDA on 2017 estimates."

For an analyst ratings summary and ratings history on Amplify Snack Brands click here. For more ratings news on Amplify Snack Brands click here.

Shares of Amplify Snack Brands closed at $13.31 yesterday.

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