BUZZ-Westrock Coffee up after Truist initiates coverage with 'buy' rating

Reuters

Oct 07, 2024

** Shares of coffee supplier Westrock Coffee Company

up ~1% at $6 premarket

** Brokerage Truist Securities initiates coverage on WEST with "buy" rating and PT of $10

** Says company is well-positioned to expand margins due to a new facility in Conway, Arkansas, specializing in coffee-based ready-to-drink (RTD) beverage manufacturing

** Notes RTD beverages have surged in retail sales due to more flavor and variety offerings along with convenience

** Believes co has untapped cross-selling opportunities as customers are using only one or two of the five main capabilities of the Conway plant, including canning, extracts, K-cups

** Blames the underperformance of the stock on uneven results of its major coffee & tea business and sees co's plans to install three new lines in the Conway plant in FY25 could offset this volatility

** Up to Friday's close, stock has fallen ~42% YTD

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))

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tea business and sees co's plans to install three new lines in the Conway plant in FY25 could offset this volatility</p><p>   ** Up to Friday's close, stock has fallen ~42% YTD</p><p> (Reporting by Neil J Kanatt in Bengaluru)</p><p>((Neil.JKanatt@thomsonreuters.com;))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BUZZ-Westrock Coffee up after Truist initiates coverage with 'buy' rating</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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tea business and sees co's plans to install three new lines in the Conway plant in FY25 could offset this volatility</p><p>   ** Up to Friday's close, stock has fallen ~42% YTD</p><p> (Reporting by Neil J Kanatt in Bengaluru)</p><p>((Neil.JKanatt@thomsonreuters.com;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"WEST","symbol_name":"Westrock Coffee","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2473177221","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2473177221","pubTimestamp":1728305146,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"** Shares of coffee supplier Westrock Coffee Company  up ~1% at $6 premarket   ** Brokerage Truist Securities initiates coverage on WEST with \"buy\" rating and PT of $10   ** Says company is well-positioned to expand margins due to a new facility in Conway, Arkansas, specializing in coffee-based ready-to-drink  beverage manufacturing   ** Notes RTD beverages have surged in retail sales due to more flavor and variety offerings along with convenience   ** Believes co has untapped cross-selling opportunities as customers are using only one or two of the five main capabilities of the Conway plant, including canning, extracts, K-cups    ** Blames the underperformance of the stock on uneven results of its major coffee & tea business and sees co's plans to install three new lines in the Conway plant in FY25 could offset this volatility   ** Up to Friday's close, stock has fallen ~42% YTD ","collect":0,"end_time":0,"defaultTopTitle":"","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"WEST":"Westrock Coffee"},"translate_title":"Truist首次给予“买入”评级后，BUZZ-Westrock Coffee上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WEST":1},"content_text":"** Shares of coffee supplier Westrock Coffee Company  up ~1% at $6 premarket   ** Brokerage Truist Securities initiates coverage on WEST with \"buy\" rating and PT of $10   ** Says company is well-positioned to expand margins due to a new facility in Conway, Arkansas, specializing in coffee-based ready-to-drink (RTD) beverage manufacturing   ** Notes RTD beverages have surged in retail sales due to more flavor and variety offerings along with convenience   ** Believes co has untapped cross-selling opportunities as customers are using only one or two of the five main capabilities of the Conway plant, including canning, extracts, K-cups    ** Blames the underperformance of the stock on uneven results of its major coffee & tea business and sees co's plans to install three new lines in the Conway plant in FY25 could offset this volatility   ** Up to Friday's close, stock has fallen ~42% YTD (Reporting by Neil J Kanatt in Bengaluru)((Neil.JKanatt@thomsonreuters.com;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}