FMP
Krispy Kreme Soars 6% Following Truist’s Upgrades
Jun 10, 2024 5:12 PM - Davit Kirakosyan
Image credit: FMP
Krispy Kreme (NASDAQ:DNUT) shares surged more than 6% intra-day today after Truist Securities analyst upgraded the company to Buy from Hold, raising their price target to $15 from $13. Following recent meetings with the company's CEO and CFO, the analysts believe many investors either undervalue or misunderstand Krispy Kreme's potential. The market is not fully recognizing the value of Krispy Kreme's new partnership with McDonald's, which is expected to accelerate revenue growth for its legacy business in the coming quarters, even before the full rollout with McDonald's is complete.
Additionally, the analysts believe that any concerns related to GLP-1 are already reflected in the current stock price. They are confident these factors position Krispy Kreme for significant growth and increased investor value.
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