Westrock Coffee price target lowered to $10 from $14 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Westrock Coffee (WEST) to $10 from $14 and keeps an Outperform rating on the shares. The company reported “soft” Q3 results and lowered its FY24 and FY25 outlook, reflecting continued pressure on ground coffee and single serve businesses related to a tough macro environment, the analyst tells investors. The firm believes the company is in the early stages of multi-year sales and profit growth as it begins to capitalize on shifting consumer preference to cold brew and ready-to-drink products by expanding its manufacturing capacity in 2024 and beyond.