On December 19, Alexia Burland Howard from Bernstein SocGen reaffirmed her Buy rating on Simply Good Foods, trading under NASDAQ:SMPL. She revised her target price from $29 to $31, indicating an upside of nearly 45%.
Howard noted that consensus growth forecasts do not align with U.S. scanner sales data. She observed promising signs across brands representing about 75% of the remaining sales mix, despite some weakness in Atkins products. Quest and OWYN products showed growth in the high-teens over the prior 12 months. These two brands account for approximately 50% of product portfolio sales.
Earlier, on December 15, Deutsche Bank analyst Stephen Powers reiterated his neutral stance on Simply Good Foods. He assigned a Hold rating and revised the target price downward from $26 to $22. His estimates suggest flat growth potential, around 3%.
Simply Good Foods develops and sells packaged food, nutritional snacks, and beverages under brands including Quest and Atkins. The company distributes products through retail and e-commerce platforms. Offerings include protein bars, shakes, caramel candy bars, cookies, crackers, and peanut butter cups.