BellRing Brands initiated with a Buy at Deutsche Bank

Deutsche Bank analyst Steve Powers initiated coverage of BellRing Brands with a Buy rating and $67 price target. The analyst sees “ample runway ahead for a currently capacity-constrained growth story making rapid headway on diversifying and scaling its manufacturing network.” In the near-term, the firm sees ample room for BellRing to expand household penetration in the U.S., primarily via package diversification and realizing full potential in club and e-commerce channels. Longer-term, it sees untapped potential in convenience and overseas for the company.