Simply Good Foods price target lowered to $42 from $44 at Stephens

Stephens lowered the firm’s price target on Simply Good Foods (SMPL) to $42 from $44 and keeps an Overweight rating on the shares. Noting that shares have traded down about 20% year-to-date, the firm says the primary overhang on the stock has been lackluster results from Atkins, which has been a drag on the entire portfolio, but adds that it believes this focus on Atkins “overlooks the fact” that even with the current challenges faced by the brand, Simply Good is still growing faster than its peer group. The firm believes Simply’s portfolio remains well-positioned with an expansive offering of protein dense products, even with the challenges currently faced at Atkins, the analyst added.