Shares of Vita Coco (NASDAQ:COCO) are higher in today’s trading session. This is likely attributable to new coverage from analyst Eric Des Lauriers from Craig-Hallum, who issued a Buy rating with a price target of $25.
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Des Lauriers believes the company can double from current levels in the coming years, citing a first-mover advantage that has allowed it to corner the coconut water market. In addition, he also noted that Vita Coco has “a unique asset-light yet exclusive supply chain,” which should allow it to strengthen its economic moat over competitors.
However, other analysts don’t seem to be as bullish on COCO stock. Indeed, Wall Street has a consensus price target of $18.25, implying 10.93% downside potential, as indicated by the graphic above. This is despite the Strong Buy rating assigned by analysts.
