Marzetti Company (MZTI) PT Lowered to $130 at DA Davidson

DA Davidson analyst Matt Curtis lowered the price target on Marzetti Company (NASDAQ: MZTI) to $130.00 (from $168.00) while maintaining a Neutral rating.

The analyst commented, "F4Q results highlighted continued margin execution, with gross margin expanding 220bp and adj operating income exceeding expectations despite softer sales. Management expects MSD FY27 sales and adjusted operating income growth led by more than $100m of Bachan’s revenue, despite F1Q adj operating income declining ~15% on Cyclospora pressure. While encouraged by margin execution, healthy foodservice traction, and Bachan’s LT potential, we see shares as fairly valued given outsized dependence on acquisitions and pricing to drive growth (Maintain NEUTRAL/$130 PT on 11x CY27 EBITDA)."

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