Jefferies Starts Tattooed Chef Inc. (TTCF) at Hold

December 3, 2020 4:25 AM EST
Get Alerts TTCF Hot Sheet
Price: $20.37 +0.89%

Rating Summary:
    1 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 26 | New: 45
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(updated to add analyst comments)

Jefferies analyst Rob Dickerson initiates coverage on Tattooed Chef Inc. (NASDAQ: TTCF) with a Hold rating and a price target of $17.00.

The analyst commented, "We initiate coverage on Tattooed Chef, an ESG-friendly, plant-based frozen food player, with a Hold rating and a $17 PT. The company should benefit from shifting consumer preferences given its on-trend portfolio, but valuation looks fair at an implied ~7x EV/FY'21 branded revenues (~30% premium to peers), given the competitive backdrop, incremental distribution upside uncertainty, and cost inherent in building an emerging brand."

For an analyst ratings summary and ratings history on Tattooed Chef Inc. click here. For more ratings news on Tattooed Chef Inc. click here.

Shares of Tattooed Chef Inc. closed at $15.42 yesterday.

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