Vital Farms downgraded to Hold from Buy at Stifel

Stifel analyst Matthew Smith downgraded Vital Farms (VITL) to Hold from Buy with a price target of $10, down from $34. The firm says the near-term challenges facing the business and the lack of visibility into the timeline of achieving a more normal operating environment offset the pullback in the stock’s valuation. Vital faces a weaker demand environment at a moment when its contracted egg supply is peaking, the analyst tells investors in a research note.