Fly News Breaks for February 12, 2020
Feb 12, 2020 | 09:07 EDT
BMO Capital analyst Kenneth Zaslow raised his price target on Ingredion to $104 after its Q4 earnings beat driven by sales growth, favorable price/mix trends, and lower non-operating costs. The analyst is keeping his Market Perform rating on the stock however, noting that the management's guidance is tied around the expected improvement in commodity prices. Zaslow adds that Ingredion is unlikely to return to profitability levels of 2017 until at least 2021 given its "commodity/HFCS exposure" as well as its reliance on acquisitions.
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