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Fly News Breaks for July 9, 2019
THS
Jul 9, 2019 | 07:07 EDT
Citi analyst David Driscoll believes the sale of TreeHouse Foods' Snack division is "more or less" neutral to his earnings estimates. A $90M sale price for the business "feels a bit disappointing," as Snacks for TreeHouse at one time were thought to have terrific growth prospects, Driscoll tells investors in a research note. However, Snacks "was a major problem" and distraction at TreeHouse, and now investors can focus on the company's improving underlying business, adds the analyst. He keeps a Buy rating on the shares.
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