Turning Point Brands price target raised to $55 from $50 at Roth MKM

Roth MKM transferred coverage of Turning Point Brands (TPB) to analyst Nick Anderson, who raised the firm’s price target to $55 from $50 and keeps a Buy rating on the shares. The company reported a solid print, beating on revenue and adjusted EBITDA as the ZigZag business continues to fire on all cylinders, the analyst tells investors in a research note. The firm added that Stokers saw modest consumer pressure, but still saw roughly 3% segment volume growth with price/mix up 9.2% against a pressured backdrop.