BellRing Brands price target lowered to $28 from $38 at Jefferies

Jefferies analyst Kaumil Gajrawala lowered the firm’s price target on BellRing Brands (BRBR) to $28 from $38 and keeps a Buy rating on the shares. Protein is entering a new phase of mainstream adoption and “easy protein” categories such as yogurt, snacks, bars, and shakes are positioned to boom as consumers seek convenient, cost-effective, high-concentration formats, says the analyst, who also has Buy ratings on Coca-Cola (KO) and Simply Good Foods (SMPL) given their exposure to the trend and valuation opportunities.