Fly News Breaks for February 27, 2020
Feb 27, 2020 | 07:19 EDT
BMO Capital analyst Kenneth Zaslow lowered the firm's price target on B&G Foods to $16 from $20 and keeps a Market Perform rating on the shares. The analyst notes that while the company's most recent quarter was in line with estimates, he is cautioned by its reliance on acquisitions to grow EBITDA, its continued challenges to generate organic sales growth, and its inconsistency in delivering against expectations. Zaslow adds that shares have severely underperformed relative to the company's peers with a perceived notion that B&G Foods may have to reduce its dividend.
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