TD Cowen lowered the firm’s price target on Vital Farms (VITL) to $42 from $49 and keeps a Buy rating on the shares. The firm said they are cautious ahead of Q4 results as its retail tracking data indicates a much sharper deceleration in volume growth year-to-date than expected. Despite management’s positive update on its supply chain expansion in January, Cowen thinks they will need to tamp down expectations as they work to ramp up production and bring new farms online in 2H.
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