Goldman Sachs analyst Bonnie Herzog raised the firm’s price target on Vita Coco (COCO) to $58 from $52 and keeps a Buy rating on the shares. Vita Coco believes that its products will be exempt from reciprocal tariffs as of November 13, even though the 40% ad valorem duty to imports from Brazil still remain applicable, the analyst tells investors in a research note. Goldman sees significant long-term growth potential for Vita Coco through a combination of increased household penetration for its branded business, distribution gains, price increases and a strong pipeline of innovation.
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