SOVO's Diversified Portfolio Poised For Growth Amid Rising Interest In BFY Products, Analyst Predicts
Portfolio Pulse from Lekha Gupta
Stephens & Co. analyst Jim Salera initiated coverage of Sovos Brands Inc (NASDAQ:SOVO) with an Overweight rating and a price target of $23. Salera sees SOVO's diversified portfolio, including Rao's Italian pasta sauces, as a key growth driver and well-positioned to capitalize on consumers' increased interest in BFY products.
June 23, 2023 | 6:22 pm
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Sovos Brands (NASDAQ:SOVO) receives an Overweight rating and a $23 price target from Stephens & Co. analyst Jim Salera, who sees the company's diversified portfolio as a key growth driver.
The analyst's positive outlook on SOVO's diversified portfolio, including Rao's Italian pasta sauces, and the potential to capitalize on consumers' increased interest in BFY products, is likely to have a positive short-term impact on the stock price. The Overweight rating and $23 price target further support this view.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100