Taglich Brothers Reiterates Speculative Buy Rating, $11.50 PT on Lifeway Foods

In a report published Wednesday, Taglich Brothers reiterated its Speculative Buy rating and $11.50 price target on Lifeway Foods

. Taglich Brothers noted, “Maintaining our Speculative Buy rating and $11.50 12-month price target. LWAY's brand awareness campaign boosted its 2011 sales growth rate to 21.4%, up from 9.3% in 2010. Concerns of food price inflation could cloud the growth outlook for LWAY, as production gains that occurred through August 2012 began to wane in September and October of 2012. Near-term raw conventional milk prices are likely to remain steady in 4Q12 compared to 3Q12, but rising organic milk prices could partially offset production gains.” Lifeway Foods closed on Tuesday at $8.24.