Blue Apron stock surges as Wall Street offers rosy outlook

Blue Apron stock surges as Wall Street offers rosy outlook

Investment analysts at Stifel Nicolaus assumed coverage on shares of Blue Apron Holdings Inc (NASDAQ:APRN) in a research report issued to clients and investors on Monday.

Some of the analysts are bullish on the stock because of Blue Apron's early position in what they see as a large market.

Among 3 analysts covering LB Foster Co (NASDAQ:FSTR), 0 have Buy rating, 0 Sell and 3 Hold.

Blue Apron has only one sell rating from Northcoast Research, which initiated coverage with a $2 price target two weeks ago.

Goldman Sachs, Canaccord Genuity and SunTrust all start off Blue Apron at Buy. They issued a "buy" rating and a $12.00 price target on the stock. Blue Apron Holdings Inc (NYSE:APRN) has 0.00% since July 24, 2016 and is.

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XAutoplay: On | OffSeven of nine analysts who initiated coverage on Monday gave Blue Apron a buy rating. They issued a "buy" rating and a $10.00 target price on the stock. Topeka Capital Markets maintained the stock with "Buy" rating in Friday, November 13 report. (NYSE:JWN). Jefferies Group Inc Limited Com reported 0.03% in Nordstrom, Inc.

Blue Apron's rebound on Monday drew a rush of activity in the stock's options.

Shares of Blue Apron Holdings (NASDAQ:APRN) opened at 6.55 on Monday. They issued an "equal weight" rating on the stock. The stock's 50 day moving average price is $7.82 and its 200 day moving average price is $7.82.

Goldman said it predicts 27-percent revenue growth for Blue Apron, while acknowledging competition it faces from other meal delivery companies such as Hello Fresh and Plated. The company has market cap of $489.92 million. If you are reading this piece on another domain, it was stolen and reposted in violation of USA and global trademark and copyright law.

"We believe Blue Apron is addressing a large multi-billion dollar market that is almost all Offline and taking spend away from both traditional grocers and restaurants (take-away and dining-in)", wrote RBC's Mark Mahaney in a research note. The Firm offers under a novel business model in which it source, process, store and package meal ingredients and ship them directly to consumers. The Company's core products include Meals and Wine.