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Fly News Breaks for January 20, 2017
FLO, TWNK
Jan 20, 2017 | 08:45 EDT
SunTrust analyst William Chappell, Jr. said Nielsen data indicate snack cakes dollar sales for the four-week period ending Dec. 31 increased 3.1%, driven by 9.5% growth from Hostess (TWNK) and partially offset by a 4.8% decline from Flowers Foods (FLO). The analyst raised his price target on Hostess to $20 from $15 and keeps a Buy rating on the shares. He also raised his price target on Flowers to $20 from $15, but maintain a Hold rating on its shares based on the company's disappointing operating trends over the past few quarters, noting that he thinks Flowers was most affected by Hostess' reentrance into the market.
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