Wells Fargo Turns More Bullish on The Vita Coco Company, Inc. (COCO) with $47 Target

The Vita Coco Company, Inc. (NASDAQ:COCO) is among the most profitable consumer defensive stocks to buy now. Chris Carey, an analyst at Wells Fargo, reiterated his ‘Overweight’ rating on The Vita Coco Company, Inc. (NASDAQ:COCO) while raising the price target to $47 from $45, which reflects a potential upside of nearly 10% from the current price level. This 4.44% revision follows a series of positive evaluations for the company, with financials hinting at a positive outlook.

Among the many markets rising, the demand for coconut water remains high. The Vita Coco Company, Inc. (NASDAQ:COCO) delivered strong sales growth, particularly in its core coconut water business. What’s truly impressive is that the company maintains its leadership across the main markets while it successfully expands in Europe.

Given this robust performance, management raised its FY25 net sales guidance to lie between $565–$580 million, indicating low-teens full-year growth. As stated by Corey Baker, the CFO of The Vita Coco Company, Inc. (NASDAQ:COCO),

"We expect strong Q3 net sales performance as we lap the inventory shortages of last year with a tougher Q4 net sales comparable due to the benefit of distributor and retail inventory replenishment."

The Vita Coco Company, Inc. (NASDAQ:COCO) is a New York-based provider of coconut water products under the Vita Coco brand name. Founded in 2004, the company offers packaged water, PWR LIFT, coconut oil, coconut juice, and coconut milk.

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