UBS initiated coverage of Simply Good Foods (SMPL) with a Neutral rating and $41 price target implying 10% upside from current levels. The firm says Simply “sits in a unique position” as its exposure to category tailwinds and changes in consumer preference, coupled with share gains across the total portfolio, should allow the company to deliver consistent growth over the long term. However, this is largely priced in with Street estimates already embedding growth at the high end of the company’s 4%-6% algorithm longer-term, the analyst tells investors in a research note.
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