Oppenheimer analyst Ian Zaffino raised the firm’s price target on Turning Point Brands (TPB) to $98 from $85 and keeps an Outperform rating on the shares. The firm says that driven by strength in Modern Oral/white pouch, Turning Point reported Q2 revenue of $117M, ahead of its/Street’s $108M/$105M estimates. Oppenheimer cites increased confidence in FRE/Alp’s growth trajectory.
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