Lake Street starts FitLife Brands with a Buy amid growing demand in wellness

Lake Street initiated coverage of FitLife Brands (FTLF) with a Buy rating and $21 price target With a scalable platform, the firm believes FitLife – which sells nutritional supplements and fitness products – can continue identifying and acquiring attractive businesses while driving leverage and earnings growth, the analyst tells investors. Despite the 30%-plus move in shares over the past 12 months, the firm thinks further multiple expansion can be supported by growth in existing brands, further integration of the Mimi’s Rock and MusclePharm acquisitions, and expanding the portfolio, the analyst added.