Vital Farms price target raised to $48 from $44 at DA Davidson

DA Davidson raised the firm’s price target on Vital Farms to $48 from $44 and keeps a Buy rating on the shares. The firm is citing its increased conviction in “material” upside for the second half of 2024 while also noting that the current avian influenza cycle finally appears to be flowing downstream as evidenced by tighter commoditized egg supply and sharply higher prices at the point of sale, the analyst tells investors in a research note. This should provide a boost to Vital volume above and beyond the underlying base momentum and should be further supported by continued feed cost tailwinds, the firm added.