Whole Earth Brands Inc. (FREE) commenced December receiving a favorable recommendation from Cantor Fitzgerald analysts. The company is a producer of different food additives. Since release of that recommendation on December 1, FREE shares increased by more than 25 percent.
Cantor Fitzgerald analysts initiated a recommendation of “Overweight” for shares of Whole Earth Brands and set the target price to $23. The target price was almost two and a half times greater than the stock’s price at the time and is 121 percent from the current level. According to experts, Whole Earth Brands can take advantage of the general situation in the food market, especially the high demand for healthier products.
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Whole Earth Brands is a producer of flavor enhancers, including low-calorie sweeteners or zero-sugar sweeteners, pure, plant-based food additives. Magnasweet, Pure Via, Equal and Canderel are some well-liked brands included in company’s product range.
Whole Earth Brands is currently focusing on growing its solutions portfolio, as its current product range is relatively slow: sales increased by just 4.6 percent in the last quarter. Furthermore the company’s business is under severe competition pressure, especially from cheaper additives available in supermarkets. By investing in new product segments and acquisitions, Whole Earth Brands plans to broaden its product range. To boost brand recognition, the organization also plans to increase its regional reach and marketing initiatives.
In April 2019, Whole Earth Brands went public and hit its highest share price of $11.22 in June this year. Whole Earth Brands Inc. (FREE) closed the Friday session up 3.28 percent to $10.39, which implies that the stock price is currently 7.40 percent below the 52-week high. Over the week, FREE has gained 6.13 percent while the stock price is up 2.67 percent since beginning of the year. Market capitalization of the Chicago, Illinois-based company currently stands at about $361 million.