Analysts See Upto 34% Upside In Sovos Brands

Goldman Sachs analyst Jason English initiated coverage of Sovos Brands Inc SOVO with a Buy rating and $19 price target, suggesting a 34% upside.
The analyst sees a "compelling distribution and product-cycle fueled growth story" from the company over the next three years.
Jason expects "top-tier organic revenue growth" of 10% and EBITDA growth of 15% through fiscal 2024, adding that the growth is underappreciated by the market at the stock's current valuation level.
Telsey Advisory initiated coverage of Sovos Brands with an Outperform rating and $17 price target implying a 20% upside.
JPMorgan analyst Ken Goldman initiated coverage of Sovos Brands with an Overweight rating and $17 price target, implying a 20% upside.
William Blair analyst Jon Andersen initiated coverage with an Outperform rating.
Loop Capital analyst Alton Stump initiated coverage with a Buy rating and $20 price target, suggesting 41% upside.
Stifel analyst Christopher Growe initiated a Buy rating, $17 price target, implying 20% upside. The analyst noted that Sovos' strong, fast growing brands can sustain high single digit sales growth for "the foreseeable future."
Cowen analyst Brian Holland initiated coverage of Sovos Brands with an Outperform rating, $20 price target, suggesting an upside of 41%.
Credit Suisse analyst Robert Moskow initiated coverage with an Outperform rating, $17 price target, implying 20% upside. The analyst believes the valuation multiple of the stock will move higher as the market gets to know the company better.
Piper Sandler analyst Michael Lavery initiated coverage with an Overweight rating, $17 price target, suggesting a 20% upside.
BofA initiated coverage of Sovos Brands with a Buy rating and $19 price target implying a 34% upside.
Price Action: SOVO shares are trading higher by 2.33% at $14.5 in premarket on the last check Monday.

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