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- Shares of BellRing Brands (NYSE:BRBR) dropped to a 6-month low and breached support at the 200-day moving average for the first time since late-2022 after TD Cowen lowered its sales growth outlook.
- Based on channel trends, Cowen analyst Robert Moskow now sees organic sales up 14.4% in FQ3 from his initial estimate of up 15.6%.
- Moskow maintained his Buy rating on the stock and $70 price target, a 21% upside to Friday’s closing price.
- BellRing Brands (BRBR), which split from Post Holdings (POST) in March 2022, reported better-than-expected results in FQ2, and raised its sales guidance above Street expectations. The company reports FQ3 results on before the market opens on August 5, expected to report an adjusted profit of $0.44 per share on $506.9M in sales.