Vita Coco downgraded to Hold at Stephens on impaired visibility

As previously reported, Stephens downgraded Vita Coco (COCO) to Hold from Buy with a price target of $36, up from $33. While the firm still “firmly” believes in the long-term growth algorithm, it is stepping to the sidelines until there is better visibility given higher freight costs coupled with tariff uncertainty. The firm also cites the stock’s “premium” trading multiple.