TD Cowen lowered the firm’s price target on BellRing Brands (BRBR) to $24 from $27 and keeps a Hold rating on the shares. The firm said BellRing lowered its 2026 guidance in response to increased shake category promotional frequency and higher whey costs to a lesser extent. This reaffirms Cowen’s concerns that ongoing competitive intensity has lowered BellRing’s visibility, especially at its large club customers.
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