Craig-Hallum bullish on Westrock Coffee, initiates with a Buy

As previously reported, Craig-Hallum initiated coverage of Westrock Coffee with a Buy rating and $13 price target, and sees upside potential to over $30 per share in the coming years. The firm notes that the company’s recently constructed facility in Conway, AR is the largest vertically integrated, roast to ready-to-drink facility in the world and is enabling Westrock and its customers to profitably capture the high-growth consumer shift towards cold coffee. Craig-Hallum sees multi-fold EBITDA growth in the years ahead, with the potential to exit 2025 at a $150M run-rate and longer-term potential for $200M-plus in EBITDA.