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Fly News Breaks for October 31, 2017
JBSS
Oct 31, 2017 | 09:17 EDT
Sidoti analyst Francesco Pellegrino downgraded John B. Sanfilippo & Son, Inc. (JBSS) to Neutral and lowered its price target to $70 from $76 following the Q3 report citing concerns off lost business with a significant customer. The company said a major customer would be would be replacing small and some medium packages of Fisher Recipe nuts with private brand recipe nuts. Pellegrino thinks the customer is Wal-Mart (WMT), which makes up as much as 45%-50% of total branded sales.
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