Simply Good Foods Is Poised For High Growth Despite 11% Stock Pullback: Morgan Stanley Upgrades
Portfolio Pulse from Shivani Kumaresan
Morgan Stanley analyst Pamela Kaufman has upgraded The Simply Good Foods Company (NASDAQ:SMPL) from Equal Weight to Overweight and raised the price target from $37 to $40. The analyst sees an attractive buying opportunity following the stock's -11% pullback YTD. The company's participation in the high growth active nutrition category, above-average topline growth outlook, and potential to turn Atkins around are among the reasons for the upgrade.
September 19, 2023 | 5:20 pm
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Morgan Stanley has upgraded The Simply Good Foods Company (SMPL) and raised its price target, indicating a positive outlook for the company. The stock's recent pullback is seen as a buying opportunity.
The upgrade from Morgan Stanley, a major financial institution, is a strong positive signal for SMPL. The raised price target indicates that the analyst sees significant upside potential for the stock. The recent pullback in the stock price is seen as a buying opportunity, which could lead to increased demand for the stock and upward pressure on the price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100