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Fly News Breaks for August 27, 2019
PYX
Aug 27, 2019 | 05:01 EDT
Imperial Capital analyst Mary Ross Gilbert lowered her price target for Pyxus International to $68 from $71 to account for a lower estimate of EBITDA in the leaf tobacco segment. The analyst, however, believes the recent share price "significantly undervalues" the company's potential to be a fast growing, consumer-branded franchise for years to come. Pyxus shares offer a "very attractive" risk/reward that could deliver potential returns of more than four times its recent price, Gilbert tells investors in a research note. She believes the company will likely pursue an initial public offering in Canada or obtain a strategic investment in its NexGen businesses. The analyst keeps an Outperform rating on the shares.
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