|Analyst / Firm||Company||Price||Rating||Price Target||Upside/Downside||Date|
Simply Good Foods CoSMPL
a day ago
#556 out of 4129 analysts
48%29 out of 61
Risk vs Reward
Powers bumped up his price target on Simply Good Foods Corporation by 2.2% after re-evaluating names in his Personal Care, Beverages, and Food portfolio.
Although the data points are "choppy," there have been several positive developments over the past several weeks, the analyst told investors.
Those include his expectation of "lower-than-expected" inflation in 2022/11, signals from the FED that the pace of rate hikes going forward will be "more deliberate," and signs of the Chinese government progressing away from the Zero-COVID policy*, Powers detailed.
Those positive developments may be negative for the relative returns of defensive assets, but not for those of consumer staples, he noted.
A "muddled and volatile macro environment will continue through 2023," Powers concluded, noting that a "less defensive posture of the market" remains his base case.
* From here: After dozens of protests starting in late 2022/11, China is set to announce a further relaxation of COVID control measures as soon as today, including reining in unnecessary testing and allowing some infected people to home quarantine.
a day ago