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Fly News Breaks for December 11, 2019
FLO
Dec 11, 2019 | 17:27 EDT
Deutsche Bank analyst Faiza Alwy resumed coverage of Flowers Foods with a Hold rating and $21 price target. The analyst is positive on the company's multi-year efforts to boost its revenue and earnings growth with acquisitions of higher-growth brands like Dave's Killer Bread and Canyon Bakehouse, but she also sees the process of optimizing supply chain and driving profitable growth as "complex". In spite of the company's "strategic flexibility", Alwy believes that Flowers Foods valuation is fair at current levels.
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