Stephens remains bullish on BellRing Brands, raises price target to $45

Stephens analyst Ben Bienvenu raised the firm’s price target on BellRing Brands to $45 from $43 and keeps an Overweight rating on the shares. The firm notes BellRing Brands reported another strong quarter for its Q3, topping Street expectations for sales and profitability. With incremental capacity continuing to come online, BellRing’s in-store positioning has been revitalized with more SKUs allowing for better visibility, Stephens adds. Given BellRing’s continued opportunity for growth and expanded resources, the firm believes shares offer an attractive risk/reward setup.