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Fly News Breaks for May 6, 2019
FARM
May 6, 2019 | 08:08 EDT
Roth Capital analyst Gerry Sweeney lowered his price target for Farmer Bros. to $28 from $33, while reiterating a Buy rating on the shares. The analyst notes that coffee pound growth remains the driver for the company, and weakness in its top two customers and the loss of 3.0mm pounds continues to pressure sales. New wins in direct ship and DSD should begin to offset this pressure in Q4, but Q3 is likely down year over year, he contends.
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