MGP Ingredients (MGPI) Stock: $100 Price Target From Truist

By Amit Chowdhry ● Nov 29, 2021
  • The shares of MGP Ingredients Inc (NASDAQ: MGPI) have received a $100 price target from Truist. These are the details.

The shares of MGP Ingredients Inc (NASDAQ: MGPI) have received a $100 price target from Truist. And Truist analyst Bill Chappell upgraded MGP to a “Buy” rating from “Hold” while increasing the price target from $80.

Chappell had cited the company’s presentations from the recent analyst day and the strong year-to-date performance, adding that its legacy business should post solid and consistent performance for the foreseeable future. And Chappell pointed out that while the demand for U.S. whiskey is as strong as ever, the industry is net short whiskey meaning almost every brand could sell more product if they had more liquid.

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