By Liz Moyer

Investing.com — Krispy Kreme Inc (NASDAQ:), shares have rebounded off their 52-week lows earlier this week. They rose 10% after Wall Street analysts provided positive research notes.

After this week’s better-than-expected performance, HSBC has raised its rating from buy to hold. Krispy Kreme highlighted the success of Valentine’s Day and St. Patrick’s Day promotions and special item sales such as Twix donuts with Rolo candy and Twix candies. They also stated that there are more specialty products like these. The company’s revenue increased 15.8% to $372.5million, surpassing expectations. It also made a profit, turning a loss into a profit last year.

Morgan Stanley maintained the stock’s overweight level, but called the quarter “surprisingly strong.” The price target was lowered to $17, from $18. Today, the shares trade at $14.37 per share.

Krispy Kreme shares fell 23% from January to their lowest point in the last year, Tuesday before earnings.

Reaffirming 2022 guidance, the company expects profits of 38 to 41 cents per share for revenue between $1.53 billion and $1.56 billion. Morgan Stanley stated that 10% to 12% year-over-year organic revenue growth was conservative.