MGP Ingredients Poised For Growth: Analyst Praises Whiskey Orders And Acquisition Upside
Portfolio Pulse from Nabaparna Bhattacharya
Truist Securities analyst Bill Chappell has reiterated a Buy rating on MGP Ingredients, Inc. (NASDAQ:MGPI), raising the price target to $140 from $125. The analyst praised the company's whiskey orders, which are primarily locked in for 2024, and the potential upside from recent and future acquisitions. The company's Premium Branded Spirits orders returned to normal in June, indicating good growth prospects. The analyst also raised the FY23 sales estimate to $826.4 million from $822.0 million, and the EPS estimate to $5.42 from $5.10.
August 07, 2023 | 6:19 pm
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MGP Ingredients, Inc. has received a reiterated Buy rating from Truist Securities analyst Bill Chappell, who also raised the price target to $140 from $125. The company's whiskey orders and potential upside from acquisitions were highlighted as positive factors.
The analyst's positive outlook on MGP Ingredients, including the increased price target and praise for the company's whiskey orders and acquisitions, is likely to boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100