Turning Point Brands price target raised to $85 from $80 at Alliance Global Partners

Alliance Global Partners raised the firm’s price target on Turning Point Brands (TPB) to $85 from $80 and keeps a Buy rating on the shares. The company’s Q4 print came in at the high-end of its preliminary range for both sales and EBITDA, the analyst tells investors in a research note. The firm added that, net-for-net, it is encouraged by the results and sees the company making 2025 its statement year within the pouch category, providing confidence to investors in its ability to replicate its strategy of gaining share in a big tobacco dominated category as it did with Stoker’s.