Analysts at Deutsche Bank provided their outlook on The Simply Good Foods Company (NASDAQ:SMPL) ahead of upcoming Q4 results, expected to be announced on Oct 21.

The analysts expect relatively in-line quarterly results and see the stock well positioned into 2023 once likely below-Street guidance for next year is out of the way.

Given continued pressure on a full resumption of workplace mobility (alongside challenging macro conditions), Q4 tracked consumption trends stepped down sequentially on both year-over-year and 3-year CAGR basis to 7.3% (vs. Q3 at 14.0%).

Although likely bolstered overall by stronger trends in untracked/online channels, the analysts believe this slowdown in tracked channel data was primarily attributed to the Atkins brand (down approximately 4% in the quarter) whereas Quest's growth has remained solid at around 22%. The analysts lowered their price target to $45 from $48, while reiterating their buy rating.