Turning Point Brands price target raised to $65 from $45 at Benchmark

Benchmark raised the firm’s price target on Turning Point Brands (TPB) to $65 from $45 and keeps a Buy rating on the shares after the company delivered a “solid” Q3, exceeding the firm’s estimates on both a top and bottom-line basis, and further increased guidance for the full year. FRE white pouches continue to propel growth and represent “a significant catalyst for the stock” as 3mg and 6mg pouches are launched, the analyst tells investors.