Barclays lowered the firm’s price target on B&G Foods to $10 from $15 and keeps an Equal Weight rating on the shares. While volumes have been the prevailing narrative in staples for several months now, the risk of GLP-1s as a secular headwind and the cyclical drag of higher rates “have taken center stage in the past week,” the analyst tells investors in a research note. The firm dropped the price target in a preview of the sector’s Q3 earnings reports.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on BGS:
- Buy/Sell: Wall Street’s top 10 stock calls this week
- B&G Foods falls -13.7%
- Apple downgraded, Oddity upgraded: Wall Street’s top analyst calls
- B&G Foods downgraded to Underweight at Piper as retail sales trends lag
- B&G Foods downgraded to Underweight from Neutral at Piper Sandler
Questions or Comments about the article? Write to editor@tipranks.com