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Fly News Breaks for April 8, 2019
LNDC
Apr 8, 2019 | 07:44 EDT
As previously reported, Roth Capital analyst Gerry Sweeney downgraded Landec to Neutral from Buy and lowered his price target on the shares to $12 from $16.50. While the sum of the parts valuation supports a higher price target, continued sourcing issues in the core vegetable business and higher debt levels likely offset gains from emerging natural foods business, he contends. The analyst believes the stock likely remains range bound in the $10-$12 level until debt levels recede and/or cost out initiatives begin to offset sourcing headwinds.
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