Karat Packaging price target raised to $31 from $28 at Truist

Truist raised the firm’s price target on Karat Packaging (KRT) to $31 from $28 and keeps a Hold rating on the shares. The firm cites the company’s Q1 EBITDA and sales beat and notes that while the imposition of tariffs creates risk for Karat Packaging, there is also opportunity, with Karat having significantly diversified away from China and also having restarted some manufacturing, the analyst tells investors in a research note.