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Fly News Breaks for December 21, 2018
CVGW
Dec 21, 2018 | 09:07 EDT
Lake Street analyst Chris Krueger lowered his price target for Calavo Growers to $94 saying that while the company reported Q4 sales ahead of expectations, earnings and EBITDA were weak due to margin pressure. The avocado industry has been volatile, with double-digit volume increases along with double-digit pricing declines, the opposite of last year, Krueger tells investors in a post-earnings research note. The analyst reduced his fiscal 2019 estimates to reflect uncertainty in avocado volumes and pricing but keeps a Buy rating on Calavo Growers.
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