Mama’s Creations price target raised to $11 from $10 at Lake Street

Lake Street analyst Ryan Meyers raised the firm’s price target on Mama‘s Creations (MAMA) to $11 from $10 and keeps a Buy rating on the shares. Mama’s reported Q3 revenue ahead of expectations, but its gross margin of 22.6% came in below the firm’s 25.5% estimate due to higher commodity costs and construction-related disruptions, the analyst tells investors. Despite the construction-related headwinds impacting gross margins, the firm thinks the investment thesis “remains the same” and is “encouraged that the revenue momentum continues,” the analyst added.