BellRing Brands added to DA Davidson ‘Best of Breed Bison’ list

DA Davidson analyst Brian Holland keeps a Neutral rating and $85 price target on BellRing Brands (BRBR), but the firm is adding the stock to its “Best-of-Breed Bison” which filters for best in class companies with sustainable moats and favorable risk / reward dynamics. Convenient nutritious snacking has increasingly bifurcated since the onset of COVID-19, and DA Davidson is positive on the company’s product exposure to shakes, noting that its leadership therein looks “particularly attractive”, the analyst tells investors in a research note. The go forward opportunity for shakes is also “particularly compelling” relative to bars, given the segment is comparatively underpenetrated while velocity trends point to superior SKU productivity, the firm added.