BellRing Brands price target lowered to $80 from $86 at Jefferies

Jefferies lowered the firm’s price target on BellRing Brands (BRBR) to $80 from $86 and keeps a Buy rating on the shares. Solid results were overshadowed by upcoming retailer destocking and a pullback from key customers “would typically be a worrying sign,” but retailers are optimizing now that shake supply is in good shape, the analyst tells investors in a post-earnings note. Consumption trends, the “best gauge of demand,” continue to be strong, the analyst added.