Vital Farms price target lowered to $39 from $40 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Vital Farms (VITL) to $39 from $40 and keeps an Overweight rating on the shares. Heading into Q1 earnings, the firm is lowering organic sales growth estimates across its packaged food coverage to reflect persistently weak scanner data, the analyst tells investors in a preview for the group. For Vital in particular, the analyst says consensus sales “look fine for 1Q (though we wouldn’t expect much upside),” adding that accelerating momentum in U.S. scanner data volumes is “encouraging.”