UPDATE: Mizuho Securities Starts The Simply Goods Group (SMPL) at Buy

January 26, 2022 4:08 PM EST
Get Alerts SMPL Hot Sheet
Price: $37.65 +0.37%

Rating Summary:
    14 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 4 | Down: 15 | New: 18
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(Updated - January 26, 2022 4:09 PM EST)

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.


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