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Fly News Breaks for October 1, 2018
CALM
Oct 1, 2018 | 09:17 EDT
As previously reported, Stephens analyst Farha Aslam downgraded Cal-Maine Foods to Equal Weight from Overweight after the company reported worse than expected Q1 earnings due to having to buy eggs on the outside market after cutting production. While overall egg production growth has been modest, growth in the number of chicks hatched points to an increase in laying hens, which could pressure pricing, Aslam added. She lowered her price target on Cal-Maine shares to $50 from $55.
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