Craig-Hallum lowered the firm’s price target on Alto Ingredients to $4 from $5 and keeps a Buy rating on the shares following a mixed Q4 in many respects, with a modest EBITDA beat but revenues/EPS below expectations. Alto did not provide official 2024 guidance but has a favorable view on the new year, which is tempered by ongoing hi-protein and corn oil production challenges at its Magic Valley plant, the firm adds.
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