Truist Securities has revised its price target for MGP Ingredients (MGPI, Financial), reducing it from $40 to $35. Despite this adjustment, the firm maintains a Buy rating on the stock, anticipating the company's upcoming quarterly earnings report.
The decision to lower the target price reflects recent shifts in market dynamics and a broader trend of multiple contractions affecting various industry sectors. These factors have prompted a reevaluation of expected valuations for companies like MGP Ingredients.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 6 analysts, the average target price for MGP Ingredients Inc (MGPI, Financial) is $41.00 with a high estimate of $53.00 and a low estimate of $30.00. The average target implies an upside of 40.95% from the current price of $29.09. More detailed estimate data can be found on the MGP Ingredients Inc (MGPI) Forecast page.
Based on the consensus recommendation from 6 brokerage firms, MGP Ingredients Inc's (MGPI, Financial) average brokerage recommendation is currently 2.2, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for MGP Ingredients Inc (MGPI, Financial) in one year is $65.47, suggesting a upside of 125.08% from the current price of $29.0875. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the MGP Ingredients Inc (MGPI) Summary page.
