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Fly News Breaks for May 14, 2019
LMNR
May 14, 2019 | 08:58 EDT
Poor weather hurt Limoneira's lemon and orange businesses in the company's preliminary Q2 results, Lake Street analyst Chris Krueger tells investors in a research note. While the company continues to execute on its global lemon strategy, heavy rains in Southern California caused volatility in its core business, which should normalize in the coming quarters, adds the analyst. He remains confident Limoneira will continue to grow its core agribusiness and generate additional cash flow from its real estate and water rights. Krueger lowered his price target for the shares to $28 from $31 and keeps a Buy rating on Limoneira.
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