Marzetti price target raised to $184 from $179 at DA Davidson

DA Davidson analyst Brian Holland raised the firm’s price target on Marzetti (MZTI) to $184 from $179 and keeps a Neutral rating on the shares. The company’s Q1 results suggest it is on track to deliver stronger than projected net sales growth, primarily owing to Foodservice segment outperformance, the analyst tells investors in a research note. The firm adds that it expects margins to gradually build over the course of the year as pricing allows cost savings programs and acquisition synergies to flow through, with potential for upside should commodities and the consumer cooperate.