BBB Foods (NYSE:TBBB) Price Target Increased to $31.00 by Analysts at Bank of America

BBB Foods (NYSE:TBBB) had its target price boosted by Bank of America from $26.00 to $31.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target would suggest a potential upside of 11.55% from the stock’s previous close.

TBBB has been the subject of several other reports. JPMorgan Chase & Co. started coverage on BBB Foods in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $30.00 target price for the company. Scotiabank began coverage on BBB Foods in a research note on Tuesday, March 12th. They set a “sector outperform” rating and a $33.00 price objective for the company. UBS Group cut BBB Foods from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $26.00 to $27.00 in a research note on Tuesday, April 9th. Finally, Morgan Stanley began coverage on BBB Foods in a research note on Tuesday, March 5th. They set an “equal weight” rating and a $22.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.60.

BBB Foods Stock Performance

Shares of NYSE TBBB traded up $3.16 during midday trading on Thursday, hitting $27.79. The stock had a trading volume of 1,204,097 shares, compared to its average volume of 887,352. The stock has a 50-day simple moving average of $22.91. BBB Foods has a fifty-two week low of $18.71 and a fifty-two week high of $28.55.

Hedge Funds Weigh In On BBB Foods

Institutional investors and hedge funds have recently made changes to their positions in the company. Seven Grand Managers LLC acquired a new stake in BBB Foods during the first quarter worth approximately $2,378,000. Sib LLC bought a new position in shares of BBB Foods in the 1st quarter valued at $4,756,000. Zweig DiMenna Associates LLC bought a new position in BBB Foods during the 1st quarter worth $6,342,000. Van ECK Associates Corp bought a new position in BBB Foods during the 1st quarter worth $2,821,000. Finally, Capstone Investment Advisors LLC bought a new position in BBB Foods during the 1st quarter worth $6,492,000. Institutional investors and hedge funds own 8.42% of the company’s stock.

BBB Foods Company Profile

BBB Foods Inc, through its subsidiaries, operates grocery retail stores in Mexico. It offers food products, drinks, hygiene and beauty products, home clean products, coffee, tea and substitutes, jellies and desserts, and baby and pet products. The company also provides branded, private label, and spot products.