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Fly News Breaks for January 6, 2020
LNDC
Jan 6, 2020 | 09:11 EDT
Barrington analyst Michael Petusky downgraded Landec to Market Perform from Outperform without a price target. The company reported a "significant" Q2 earnings miss, which makes its reiterated fiscal 2020 guidance difficult to achieve, Petusky tells investors in a research note. While Landec is taking positive steps towards becoming a more efficient operator, the reiteration of "difficult-to-achieve" guidance was a mistake that is likely to overhang shares for the next several months, resulting in a trading range bound stock, contends the analyst.
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