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Fly News Breaks for June 24, 2019
Jun 24, 2019 | 06:59 EDT
UBS analyst Steven Strycula upgraded Hostess Brands to Buy from Neutral and raised his price target on the shares to $17 from $14, citing three catalysts he sees. Sales trends are accelerating, according to Nielsen data, the recent acquisition of a Chicago Bakery facility brings Hostess new production capability in breakfast categories and the company is on pace to generate $350M-$400M in free cash flow over three years, he stated.
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