JPMorgan initiates Once Upon a Farm stock coverage with Overweight rating

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Oil extends surge on wider Middle East conflict, Strait of Hormuz closure Gold dips, reverses course as stronger dollar weighs amid Iran conflict Gold price surge after Iran attack could fade, Pepperstone says Dollar surges to over five-week high on U.S.-Iran escalation; euro, sterling slip FLASH SALE (South Africa Philippines Nigeria) FLASH SALE JPMorgan initiates Once Upon a Farm stock coverage with Overweight rating By Investing.com Analyst Ratings Published 03/03/2026, 02:49 AM JPMorgan initiates Once Upon a Farm stock coverage with Overweight rating 0 OFRM 1.59% Investing.com - JPMorgan initiated coverage on Once Upon a Farm (NYSE:OFRM) with an Overweight rating and set a price target of $29.00, representing 25% implied upside. The stock currently trades at $23.58, giving the company a market cap of $933.78 million, though InvestingPro analysis suggests the stock is overvalued relative to its Fair Value estimate. The company sells clean label, organic food for babies and kids under the Once Upon a Farm brand and has grown rapidly since its start in 2017, including more than 50% year-over-year in 2025 and 66% year-over-year in 2024. Once Upon a Farm targets 20% or higher sales growth longer term. JPMorgan projects growth rates of 27% in 2026 and 35% in 2027, driven by the rollout of coolers in the baby aisles at retailers and a bigger push by the company into kid snacks. JPMorgan stated it does not see this type of organic growth potential from other food companies in its coverage. The firm noted that Once Upon a Farm’s EBITDA margin was roughly breakeven in 2025, with the company posting EBITDA of -$7.67 million in the last twelve months. InvestingPro Tips highlight that the company is not yet profitable, with earnings results due March 12. JPMorgan expects an upward inflection in margins over the next couple of years, especially in 2027, as the company’s top-line growth drives operating leverage. In oth...