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Fly News Breaks for August 1, 2016
FARM
Aug 1, 2016 | 08:40 EDT
After meeting with the company's CEO Mike Keown and CFO Isaac Johnston, Roth Capital analyst Anton Brenner raised his price target for Farmer Bros. to $40 from $35 saying he looks for rapid earnings and cash flow growth over the next several years. Moreover, Brenner believes the company should sustain mid-to-high single-digit annual coffee volume growth, even before assuming new chain account additions. He reiterates a Buy rating on the shares.
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