Piper Sandler Initiates Coverage on Krispy Kreme
Krispy Kreme Doughnut's Stock is Rated Overweight by Piper Sandler
Piper Sandler has initiated coverage on Krispy Kreme, Inc. (NASDAQ:DNUT) with an Overweight rating and a price target of $21.00. The firm sees the company as a beneficiary of the ongoing recovery in the restaurant industry and its focus on value.
Piper Sandler's Key Points:
- Krispy Kreme is well-positioned to benefit from the recovery in the restaurant industry.
- The company's value-oriented menu is attractive to consumers in a challenging economic environment.
- Krispy Kreme has a strong brand and a loyal customer base.
Piper Sandler's analysis is based on the following key assumptions:
- The U.S. economy will continue to recover in 2023.
- Inflation will remain elevated, but will moderate over the course of the year.
- Consumer spending will remain resilient.
Piper Sandler believes that Krispy Kreme is a well-managed company with a strong track record of execution. The firm expects the company to continue to grow its revenue and earnings in the years to come.
Krispy Kreme is a global retailer of doughnuts, coffee, and other food items. The company has over 1,400 stores in 35 countries. Krispy Kreme's stock has performed well in recent months, rising over 20% year-to-date.
The initiation of coverage by Piper Sandler is a positive sign for Krispy Kreme. The firm's Overweight rating and price target suggest that it believes the company's stock has further upside potential.
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