BellRing Brands price target lowered to $32 from $38 at DA Davidson

DA Davidson lowered the firm’s price target on BellRing Brands (BRBR) to $32 from $38 and keeps a Buy rating on the shares. The anticipated Premier Protein consumption inflection – alongside Walmart merchandising – has not materialized, suggestive at best share shifts continue to be more pronounced than expected in the near term, even though the firm’s Buy rating reflects a longer term view that BellRing can ultimately hold share within one of the fastest growing categories in Consumer Packaged Goods, the analyst tells investors in a research note.