Vita Coco price target raised to $59 from $47 at Piper Sandler

Piper Sandler raised the firm’s price target on Vita Coco (COCO) to $59 from $47 and keeps an Overweight rating on the shares. The firm notes President Trump removed the 40% ad valorem tariff on coconut water imported from Brazil on November 20, as well as previously removing reciprocal tariffs from Vita Coco’s other coconut water producing countries, effective November 13. The company expects tariff costs of $14M-$16M in 2025, though Piper doesn’t expect any tariff costs in 2026.