Goldman Sachs Maintains Buy on Vita Coco, Lowers Price Target to $28
Portfolio Pulse from Benzinga Newsdesk
Goldman Sachs analyst Bonnie Herzog has maintained a Buy rating on Vita Coco (NASDAQ:COCO) but reduced the price target from $32 to $28.
January 30, 2024 | 2:06 pm
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NEUTRAL IMPACT
Goldman Sachs reaffirmed a Buy rating on Vita Coco while lowering the price target from $32 to $28, indicating continued confidence but adjusting for market conditions.
While the reduction in price target could suggest a less optimistic view of Vita Coco's future price performance, the maintenance of a Buy rating indicates that Goldman Sachs still sees the stock as a good investment. The mixed signals could lead to a neutral short-term impact on the stock price as the market digests both the continued endorsement and the lowered expectations.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100