Truist lowered the firm’s price target on MGP Ingredients (MGPI) to $40 from $75 and keeps a Buy rating on the shares. The firm is adjusting its model after the company’s Q4 results and below-consensus FY25 guidance, the analyst tells investors in a research note. Truist is also cutting its FY25 EPS view to $2.60 from $3.84 and its FY26 view to $2.70 from $4.66.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MGPI:
- MGP Ingredients Faces Strategic Adjustments Amid Market Challenges and Declining Outlook
- MGP Ingredients’ Earnings Call: Challenges and Growth
- MGP Ingredients upgraded to Buy from Hold at Lake Street
- MGP Ingredients: Strategic Resilience and Growth Potential Amid Industry Challenges
- MGP Ingredients price target lowered to $50 from $60 at Roth MKM