UPDATE: Jefferies Downgrades The Simply Goods Group (SMPL) to Hold
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Jefferies analyst Rob Dickerson downgraded The Simply Goods Group (NASDAQ: SMPL) from Buy to Hold with a price target of $36.00.
The analyst commented, "SMPL now trades at a ~55% relative EV/EBITDA premium vs. U.S. Food in anticipation of a full Atkins consumption recovery as the U.S. exits the pandemic, leaving limited NTMupside, in our view. Although the consummation of another deal is highly likely, timing is less clear. We continue to believe the company's long-term strategy and fundamentals are solid, but we downgrade SMPL from Buy to Hold off a more balanced risk/reward profile."
Shares of The Simply Goods Group closed at $32.90 yesterday.
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