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Investing.com - BofA Securities upgraded The Vita Coco Co. Inc (NASDAQ:COCO) from Neutral to Buy and raised its price target to $54.00 from $48.00 on Monday. The new target represents a 23% upside from the current price of $43.85, with analyst consensus targets ranging from $45 to $58, according to InvestingPro data.
The upgrade follows the White House’s Friday announcement excluding certain agricultural products, including coconut water, from reciprocal tariffs under Annex II. The tariff exemption relief became effective November 13.
BofA Securities had previously incorporated tariffs in 2026 as an incremental headwind worth $37.5 million for the coconut water company. The firm has now removed this projected headwind from its financial models.
The research firm raised its fiscal year 2026 adjusted EBITDA estimate for Vita Coco by $37.5 million to $128.1 million as a direct result of the tariff exemption. For context, Vita Coco’s EBITDA for the last twelve months stands at $77.46 million, with the company showing strong revenue growth of 23.12%.
BofA Securities noted that tariffs were the primary reason for its previous Neutral rating, stating it had remained confident in Vita Coco’s topline trajectory but was concerned about the magnitude of potential tariffs and uncertainty related to trade policy. InvestingPro analysis shows Vita Coco maintains excellent financial health with more cash than debt on its balance sheet and a strong current ratio of 3.43, though it trades at a relatively high P/E ratio of 38.06. The company’s comprehensive Pro Research Report is available to subscribers, along with 12 additional ProTips.
In other recent news, Vita Coco Company Inc. reported its third-quarter 2025 earnings, which exceeded analyst expectations. The company achieved net sales of $182 million, surpassing forecasts and demonstrating strong financial performance. Earnings per share were reported at $0.40, significantly beating the anticipated $0.30, marking a 33.33% positive surprise. These results reflect a robust quarter for Vita Coco, contributing to positive market reactions. The earnings announcement highlights the company’s ability to outperform predictions, which is a crucial factor for investors. This development is part of recent trends in the company’s financial reporting. The positive earnings report could influence future analyst ratings and investor sentiment.
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