Stifel lowered the firm’s price target on TreeHouse (THS) to $32 from $41 and keeps a Hold rating on the shares. TreeHouse reported Q3 results with softer than anticipated revenues offset by strong margin expansion, the analyst tells investors. However, the company lowered its 2024 outlook incorporating a softening consumption environment and the impact of the griddle product recall and production plant shutdown and provided preliminary comments for 2025 with top line expectations now flattish, notes the analyst, who remains cautious on the underlying environment for TreeHouse improving in the near term.
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