The Simply Goods Group (SMPL) PT Raised to $36 at Jefferies After Earnings

January 7, 2021 8:31 AM EST
Get Alerts SMPL Hot Sheet
Price: $35.93 --0%

Rating Summary:
    10 Buy, 7 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 18 | Down: 21 | New: 44
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Jefferies analyst Rob Dickerson raised the price target on The Simply Goods Group (NASDAQ: SMPL) to $36.00 (from $27.00) after the company reported better-than-expected Q1’21 sales, gross profit, and EBITDA results. Upside, once again, was partially due to a shipment timing benefit, but it was also due to improving topline and share trends through the quarter combined with strong eComm growth now that Amazon is the company’s second-largest customer.

The analyst reiterated a Buy rating, stating "We raise our FY21/22/23 EPS ests. by ~6%/13%/15% resp. given a higher probability of topline recovery and incremental deleverage due to cash positioning. We cont. to favor the shares given COVID-recovery upside, delevered balance sheet, and positioning within the on-trend healthy snacks category."

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