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Fly News Breaks for August 30, 2019
CAG, BGS
Aug 30, 2019 | 08:39 EDT
Credit Suisse analyst Robert Moskow maintained an Underperform rating on B&G Foods (BGS) and lowered his price target on shares to $17 from $19 due to concerns of weaker retail trends in the company's frozen business. The analyst noted that the company is planning to launch "a slew of new frozen products" in the second half of this year to reverse the negative trends, but this may be offset by price increases and competitor Conagra (CAG) launching new products of its own.
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