Vita Coco price target raised to $71 from $62 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Vita Coco (COCO) to $71 from $62 and keeps a Buy rating on the shares. Vita Coco reported a strong Q1 with revenue growth of 37%, well above expectations, driven by robust performance in its flagship Vita Coco Coconut Water brand, continued private label strength, and improved pricing, the analyst tells investors in a research note. Volume growth was also strong across both segments, while gross margins expanded meaningfully due to favorable pricing and lower freight costs, supporting a significant EPS beat versus consensus and prior-year results, the firm says.