Krispy Kreme price target lowered to $14 from $17 at BofA

BofA analyst Sara Senatore lowered the firm’s price target on Krispy Kreme (DNUT) to $14 from $17 and keeps a Buy rating on the shares. The firm believes a premium valuation is justified given the company’s “robust double digit topline growth, extended growth runway, and higher incremental returns, but lowered its target multiple owing to multiple compression that has occurred across comparable growth companies, the analyst tells investors.