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Fly News Breaks for January 7, 2019
NBEV
Jan 7, 2019 | 09:24 EDT
Northland analyst Mike Grondahl raised his price target on New Age Beverages to $8 from $6, stating that he sees the important point of the Morinda Holdings acquisition being how well New Age can utilize the 160,000 DTC distribution points to sell other brands in its portfolio, especially its CBD products. He believe New Age's CBD products could ship in the near-term, stating that the Farm Bill passage should make distribution of CBD products "less of a headache." Grondahl maintains an Outperform rating on New Age Beverages shares.
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