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Fly News Breaks for May 6, 2019
POST
May 6, 2019 | 08:32 EDT
As previously reported, Goldman Sachs analyst Jason English upgraded Post Holdings to Buy from Neutral after the stock came under pressure following the company's earnings report. However, he views the pullback as a buying opportunity as English thinks transient headwinds, such as a retail inventory de-stock in the U.S. cereal business and weather-related disruptions in its refrigerated foods segment, were the reason results missed investor expectations in Q2. He sees Post's global cereal business being poised to return to EBITDA growth in Q3 and expects a similar acceleration in its refrigerated food business in Q3, English tells investors. The analyst, who also sees the potential for additional value-unlocking disposals, raised his price target on Post shares to $134 from $107.
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