MGP Ingredients price target lowered to $88 from $92 at Roth MKM

Roth MKM lowered the firm’s price target on MGP Ingredients (MGPI) to $88 from $92 after its negative Q3 pre-announcement but keeps a Buy rating on the shares. The outperformance of Q2 has not extended into the second half as MGPI forecast weak sales in all three of its segments and cut its full-year guidance, though shares continue to reflect a substantial discount to other spirits stocks, the analyst tells investors in a research note.