Deutsche Bank Has Hold on Flowers Foods
Deutsche Bank is out with a research report on Flowers Foods (NYSE: FLO) and it has a Hold rating and a $20 price target on shares.
In a note to clients, Deutsche Bank writes, "While the long term appears somewhat better for Flowers, unfortunately the intermediate term remains filled with challenges that could limit earnings. We don't see much downside with a solid balance sheet (1.0x net debt/EBITDA), respectable FCF (yield = 6%), and top mgmt team and thus retain our Hold opinion.
Shares of FLO gained 15 cents yesterday to close at $18.80.
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