Truist Securities Starts Karat Packaging Inc (KRT) at Buy

Truist Securities analyst Jake Bartlett initiates coverage on Karat Packaging Inc (NASDAQ: KRT) with a Buy rating and a price target of $24.00.

The analyst commented, "We are launching coverage of KRT with a BUY rating and $24 PT. KRT is a distributor and manufacturer of disposable foodservice packaging. We expect KRT to benefit from secular shifts in disposable packaging - increased off-premise sales and the shift to eco-friendly packaging - by leveraging its nimble business model and expanding geographic reach. We expect Karat to maintain industry leading margins due to product mix shift and exposure to high margin sales channels. Our $24 PT is based on an EV/EBITDA ('22E) multiple of 10x, a discount to distributor peers (12.4x)."

For an analyst ratings summary and ratings history on Karat Packaging Inc click here. For more ratings news on Karat Packaging Inc click here.

Shares of Karat Packaging Inc closed at $18.32 yesterday.

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