BellRing Brands price target lowered to $40 from $60 at Truist

Truist lowered the firm’s price target on BellRing Brands (BRBR) to $40 from $60 and keeps a Hold rating on the shares. The firm is updating its model after the company’s Q3 results, the analyst tells investors in a research note. Truist adds that the company’s continued decision not to meaningfully expand distribution beyond its core club and mass customers will limit company’s ability to retain share in RTD shakes over the near-term.