Lake Street upgraded MGP Ingredients (MGPI) to Buy from Hold with a price target of $45, down from $55. The company reported a “modest” Q4 beat to end “a brutal year,” and the initial guidance “sets the stage for “an even more difficult 2025 amid broad spirits industry challenges,” says the analyst. However, the firm believes green shoots are emerging and upgrades the shares on these green shoots and “a battered valuation,” the analyst tells investors.
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