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Fly News Breaks for May 8, 2019
FARM
May 8, 2019 | 08:05 EDT
Roth Capital analyst Gerry Sweeney downgraded Farmer Bros. to Neutral from Buy after the company's results were hurt by significant operating issues and Mike Keown stepped down as CEO. While Sweeney said Farmer Bros. could appear attractive as a takeover candidate, he lowered his rating until there is more visibility on revenue and costs. Sweeney lowered his price target on the shares to $20 from $28. B. Riley FBR analyst Marc Wiesenberger also downgraded Farmer Bros. to Neutral from Buy this morning.
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