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Fly News Breaks for August 3, 2016
SODA
Aug 3, 2016 | 08:43 EDT
Roth Capital analyst Anton Brenner downgraded SodaStream to Neutral from Buy as "significantly" slower growth seems likely in the second half of the year. The analyst notes that the company reported "strong" sales and income improvement in Q2 exceeded estimates. However, he points out that much of the revenue gain apparently was sell-in to distributors and retailers, and retail sales remain soft in important markets. Further, SodaStream's stock has appreciated more than 100% since April, and seems reasonably priced given the uncertainties, the analyst adds. He raised his price target on the shares to $33 from $22.
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