Turning Point Brands price target raised to $70 from $55 at Roth MKM

Roth MKM analyst Nick Anderson raised the firm’s price target on Turning Point Brands (TPB) to $70 from $55 and keeps a Buy rating on the shares. The firm is citing the ongoing momentum within the nicotine pouch category, both within its own FRE brand and in its announced JV with Alp, which enhances the company’s visibility as a key player in the U.S. nicotine pouch market, the analyst tells investors in a research note. Roth MKM adds that Turning Point’s core revenue segments remain free cash flow positive, which should allow for non-dilutive investment in expanding within the rapidly growing pouch category.