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Fly News Breaks for May 10, 2016
KKD
May 10, 2016 | 09:28 EDT
Stephens analyst Will Slabaugh downgraded Krispy Kreme to Equal Weight from Overweight following the announcement the company is entering into an agreement to be acquired by JAB Beech, a unit of JAB Holding. The proposed deal will be at $21 per share, the analyst tells investors in a research note, adding that he likes the valuation of this deal, which is expected to close at some point in the third quarter. Slabaugh raised his price target on the shares to $21 from $20.
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