We are reiterating our Buy rating and $0.25 price target for Starco Brands, leaving our 2024 projections basically unchanged and rolling out another year of double-digit top and EBITDA growth after the company reported inline 4Q23 results and left 2024 guidance unchanged. We believe, with multiple potential expansion opportunities in category adjacencies and new relationships, continued innovation and vertical integration and the potential for further accretive acquisitions (which are not in our projections), Starco is aligned to register further material progress on numerous fronts in 2024 and beyond. As such, we are reiterating our Buy rating and $0.25 price target for STCB
04 Apr 2024
STCB: 4Q Review: Setting Up the Next Steps; Reiterate Buy, PT
elf Beauty Inc (ELF:NYSE), 0 | e.l.f. Beauty, Inc. (ELF:NYS), 0 | Starco Brands Inc (STCB:NYSE), 0 | Starco Brands Inc Class A (STCB:OTC), 0 | Coty (COTY:NYSE), 0 | Coty Inc. Class A (COTY:NYS), 0 | Diageo plc (DGE:LON), 2,498 | Estee Lauder Companies (EL:NYSE), 0 | Estee Lauder Companies Inc. Class A (EL:NYS), 0 | INTER PARFUMS (IPAR:NYSE), 0 | Inter Parfums, Inc. (IPAR:NAS), 0 | Unilever Nigeria PLC (UNILEVER:NSA), 0 | Edgewell Personal Care Co (EPC:NYSE), 0 | Edgewell Personal Care Co. (EPC:NYS), 0
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STCB: 4Q Review: Setting Up the Next Steps; Reiterate Buy, PT
elf Beauty Inc (ELF:NYSE), 0 | e.l.f. Beauty, Inc. (ELF:NYS), 0 | Starco Brands Inc (STCB:NYSE), 0 | Starco Brands Inc Class A (STCB:OTC), 0 | Coty (COTY:NYSE), 0 | Coty Inc. Class A (COTY:NYS), 0 | Diageo plc (DGE:LON), 2,498 | Estee Lauder Companies (EL:NYSE), 0 | Estee Lauder Companies Inc. Class A (EL:NYS), 0 | INTER PARFUMS (IPAR:NYSE), 0 | Inter Parfums, Inc. (IPAR:NAS), 0 | Unilever Nigeria PLC (UNILEVER:NSA), 0 | Edgewell Personal Care Co (EPC:NYSE), 0 | Edgewell Personal Care Co. (EPC:NYS), 0
- Published:
04 Apr 2024 -
Author:
Eric Beder -
Pages:
7
We are reiterating our Buy rating and $0.25 price target for Starco Brands, leaving our 2024 projections basically unchanged and rolling out another year of double-digit top and EBITDA growth after the company reported inline 4Q23 results and left 2024 guidance unchanged. We believe, with multiple potential expansion opportunities in category adjacencies and new relationships, continued innovation and vertical integration and the potential for further accretive acquisitions (which are not in our projections), Starco is aligned to register further material progress on numerous fronts in 2024 and beyond. As such, we are reiterating our Buy rating and $0.25 price target for STCB