Morgan Stanley raised the firm’s price target on Simply Good Foods (SMPL) to $37 from $36 and keeps an Equal Weight rating on the shares. The stock closed up 9% on a strong EBITDA beat, driven primarily by gross margin upside, the analyst tells investors in a post-earnings note. The firm has “a favorable bias with valuation still somewhat compelling” even after yesterday’s strong stock move relative to strong Quest and OWYN momentum, though it adds that visibility to Atkins stabilization remains low.
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