UPDATE: Taglich Brothers Reiterates Speculative Buy Rating, Raises PT on Lifeway Foods on Higher Sales Growth

In a report published Tuesday, Taglich Brothers analyst Howard Halpern reiterated a Speculative Buy rating on Lifeway Foods

, and raised the price target from $11.50 to $14.10. In the report, Halpern noted, “Maintaining our Speculative Buy rating. LWAY's brand awareness campaign boosted its 2012 and 2011 sales growth rates to 17% and 21%, respectively, up from 9.3% in 2010. Our prior concern regarding food price inflation abated due to milk production gains (see chart right) in nine out of the last twelve months. In 1Q13, raw conventional milk prices are likely to fall $0.50 per hundredweight (ctw) from 4Q12, and $2.60 below the 2012 peak of $22 per cwt. However, 1Q13 prices should see an increase by $1.70 per cwt from 1Q12.” Lifeway Foods closed on Monday at $12.42.