BBB Foods upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded BBB Foods (TBBB) to Overweight from Equal Weight with a price target of $46, up from $30. Coupled with accelerating comps versus FY24 levels, the company is well-positioned to drive growth in the hard discount industry and capture the store total addressable market, the analyst tells investors in a research note. The firm looks for a 15% store count CAGR with revenue per-store tracking consistently above inflation, Morgan Stanley adds.