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Fly News Breaks for September 29, 2017
FARM
Sep 29, 2017 | 09:47 EDT
Lake Street analyst Chris Krueger says Farmer Bros. reported Q4 sales slightly below expectations while earnings beat. The company continues to make progress in its strategic transformation, Krueger tells investors in a post-earnings research note. The analyst, however, lowered his FY18 earnings per share estimate to 65c from $1.20. He believes the company is in the "early innings of a significant growth opportunity," but that it will now begin in late FY18 or FY19. Krueger keeps a Buy rating on Farmer Bros. The coffee roaster is up 5% to $32.06 in early trading.
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