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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on WEST:
- Westrock Coffee Reports Q3 2024 Earnings and Outlook
- Westrock Coffee reports Q3 EPS (16c), consensus (6c)
- Westrock Coffee sees FY24 consolidated adjusted EBITDA of $50M
- Westrock Coffee Expands Board with New Director Appointment
- Short Report: MicroStrategy shorts reduce exposure as stock rallies
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
