BellRing Brands (BRBR) PT Lowered to $21 at JPMorgan on Risk to FY26 Outlook

JPMorgan analyst Thomas Palmer lowered the price target on BellRing Brands (NYSE: BRBR) to $21.00 (from $28.00) while maintaining an Overweight rating.

The analyst commented, "BellRing Brands (BRBR - Overweight) is scheduled to report fiscal 2Q26 (March) earnings on Tuesday, May 5th. We model 2Q sales and EBITDA comparable to the Consensus Metrix estimate and consistent with BRBR’s guidance last quarter. However, we continue to see risk to BRBR’s FY26 outlook and growth going forward. Even during an unusually heavy promotional period, BRBR's measured consumption in fiscal 2Q increased by less than the company's +4-6% annual sales growth outlook. As discussed in this note, competitive pressures continue to mount, both from smaller, heavily promotional brands (especially Oikos and Nurri) and private label (Sam's Club)."

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