Oppenheimer Reiterates Outperform On Boulder Brands Following Natural Products Expo East Conference
In a research report issued today, Oppenheimer analyst Rupesh Parikh reiterated an Outperform rating on Boulder Brands Inc (NASDAQ:BDBD) with a price target of $16, following the Natural Products Expo East conference in Baltimore, MD,
Parikh wrote, “The company showcased a number of new products within the EVOL, Udi’s and Earth Balance brands. A key part of our positive thesis on BDBD shares is the significant sales potential from new product innovation and distribution gains. We were impressed with the level of innovation and remain confident in management’s ability to drive double-digit organic sales growth going forward. Although our focus near term is on sales gains primarily in the grocery channel, other growth opportunities are becoming more apparent. Last week, management announced a new partnership with Papa Murphy’s to bring Udi’s Gluten Free Pizza crust to its more than 1,000 locations. We believe more partnerships could be in the offing. Our Outperform rating on BDBD shares reflects our positive views on the company’s L-T sales growth and earnings potential.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Rupesh Parikh has a total average return of -11.6% and a 33.3% success rate. Parikh has an average return when recommending BDBD, and is ranked #2890 out of 3295 analysts.