UPDATE: Mizuho Securities Starts The Simply Goods Group (SMPL) at Buy
Get Alerts SMPL Hot Sheet
Rating Summary:
14 Buy, 4 Hold, 0 Sell
Rating Trend:

Today's Overall Ratings:
Up: 4 | Down: 15 | New: 18
Join SI Premium – FREE
Mizuho Securities analyst John Baumgartner initiates coverage on The Simply Goods Group (NASDAQ: SMPL) with a Buy rating and a price target of $46.00.
The analyst comments "We initiate coverage of The Simply Good Foods Company (SMPL) with a Buy rating and $46 price target. SMPL is a U.S. healthy snacking leader with portfolio expansion potential across categories poised to benefit from high protein/low-carb/low sugar formulations. We model FY22E-FY25E compound annual growth rates (CAGRs) of +9% and +11% for net sales and adjusted EBITDA (vs. Street's +7% and +9%) and expect positive surprises vs. consensus from (1) healthy snacking sustaining +MSD/+HSD growth, post-COVID and (2) SMPL market share gains from innovation and distribution. We also expect growth-accretive M&A incremental to our forecasts. Our $46 PT is based on 2.8x our CY21E-CY23E PEG (10% premium vs. Staples growth peers vs. current 15% discount)."
For an analyst ratings summary and ratings history on The Simply Goods Group click here. For more ratings news on The Simply Goods Group click here.
Shares of The Simply Goods Group closed at $34.50 yesterday.
You May Also Be Interested In
- Novavax (NVAX) Stock Price Drops 5% as BofA Starts at Underperform, Sees 40% Downside Risk
- UPDATE: Craig-Hallum Downgrades Citi Trends (CTRN) to Hold
- Future PLC (FUTR:LN) PT Lowered to GBP27.50 at Barclays
Create E-mail Alert Related Categories
Analyst Comments, Hot Comments, Hot New Coverage, New CoverageSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!