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Fly News Breaks for May 10, 2016
PF, BGS
May 10, 2016 | 08:32 EDT
Buckingham downgraded B&G Foods (BGS) to Neutral from Buy, saying the stock has already revalued following the Green Giant acquisition and the market is not discounting all of the of challenges associated with running a canned/frozen vegetable business. The firm keeps a $43 price target on B&G shares. Buckingham paired its downgrade with a recommendation to use B&G as a source of funds to either open or add to positions of Pinnacle Foods (PF), on which it has a Buy rating and $50 price target.
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