Lowered Estimates For FLO Following Analyst Day

BB&T Capital Markets has published a research report following the Analyst Day for Flowers Foods, Inc.

and as a result has lowered estimates for FLO's 3Q. BB&T writes: "We have reduced our Q3 estimate to $0.34 from $0.36 (consensus is currently $0.38) and have raised our Q4 to $0.40 from $0.38. Our full year 2010 estimate remains $1.55. We have raised our FY'11 estimate to $1.72 from $1.70 due to the new business wins and higher pricing, which we expect to offset higher input costs for the full year." BB&T maintains its Buy rating and $28 price target. Flowers Foods, Inc. closed yesterday at $24.60.