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Fly News Breaks for January 24, 2020
BRBR, POST
Jan 24, 2020 | 06:53 EDT
DA Davidson analyst Brian Holland initiated coverage of Post Holdings (POST) with a Buy rating and $129 price target. The analyst notes that accounting for the company's spin off BellRing (BRBR) late last year, the current valuation on Post Holdings is about 10-times his expected next-12-months EBITDA, which is at the low end of its range over the past two years. Holland believes that this multiple undervalues the company's Foodservice & Refrigerated Retail segments, where he sees a more fair valuation closer to 12.5-times.
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