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Fly News Breaks for January 22, 2020
TWNK
Jan 22, 2020 | 17:19 EDT
Jefferies analyst Rob Dickerson initiated coverage of Hostess Brands with a Buy rating and $17 price target. The analyst cites the company's mid-to-high single digit volume growth and also sees its new product offerings from the distressed Chicago bakery purchased in 2018 as doing well. Dickerson adds that Hostess Brands offers "growth at value", currently trading at about a 15% discount relative to its peer average on the enterprise value to expected EBITDA basis.
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