Lake Street analyst Chris Krueger says Farmer Bros. reported Q2 adjusted EBITDA that exceeded expectations driven by margin improvements, although sales missed his estimate. The company is on-boarding new customers, which should eventually boost sales growth and margins, although progress is clouded by the loss of two key brands, Krueger tells investors in a post-earnings research note. He continues to believe Farmer Bros. "is in the early innings of a significant growth opportunity." As such, the analyst keeps a Buy rating on the shares with a $36 price target.