- Wells Fargo analyst Chris Carey initiated coverage on Vita Coco Company Inc COCO with an Overweight rating and $18 price target, implying a 1% upside.
- The analyst sees a lot to like about Vita Coco, the leading brand in a fast-growth functional beverage category with a distribution runway, competitive moats, a mix margin story, and experienced leadership.
- Carey added that share gains are accelerating behind building strength in both distribution and velocity, with valuation offering an appropriate cushion.
- Credit Suisse analyst Kaumil Gajrawala initiated coverage of Vita Coco with an Outperform rating and $18 price target.
- The analyst believed Vita Coco's position as a niche better-for-you beverage platform offered sufficient top-line strength and bottom-line earnings power to warrant potential valuation upside.
- Evercore ISI analyst Robert Ottenstein initiated coverage of Vita Coco with an Outperform rating and $18 price target.
- Ottenstein said Vita Coco has the potential to grow at twice the rate of the North American non-alcoholic ready-to-drink beverage market as its rides the "two enduring waves" of wellness and the "demographic engine" of Hispanic and Asian-American population growth.
- BofA analyst Bryan Spillane initiated coverage of the company with a Buy rating and $18 price target, forecasting a 16% CAGR over the next three years, with most of the growth coming from distribution gains, product innovation, and new packaging.
- Vita Coco's "robust" supply chain is difficult for competitors to replicate, providing the company with a "differentiated advantage," Spillane notes.
- Piper Sandler analyst Michael Lavery initiated coverage of Vita Coco with an Overweight rating and $17 price target, implying a 4% downside. The company has had "robust recent growth," primarily driven by coconut water, a category that has had low double-digit sales growth over the last four quarters.
- Goldman Sachs analyst Bonnie Herzog initiated coverage of Vita Coco with a Buy rating and $22 price target, suggesting a 23.5% upside.
- Bonnie said the company is an innovator within the consumer packaged goods universe, saying it essentially scaled the coconut water category in the U.S. and has a "rich" pipeline of coconut water products that fuse functional benefits with authentic, better-for-you ingredients.
- Herzog sees a "long runway of attractive topline growth" for Vita Coco.
- Price Action: COCO shares are trading higher by 23.03% at $17.84 on the last check Monday.
COCOThe Vita Coco Co Inc
$31.692.59%
Edge Rankings
Momentum
87.68
Growth
86.74
Quality
-
Value
50.05
Price Trend
Short
Medium
Long
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