UPDATE: DA Davidson Starts Lancaster Colony (LANC) at Neutral, Elects to Await Better Entry Point

(update comment)

DA Davidson analyst Brian Holland initiates coverage on Lancaster Colony (NASDAQ: LANC) with a Neutral rating.

The analyst comments "We see multiple paths to long term sales & profit growth, but believe they are reasonably accounted for within valuation today—especially with the stock up ~15% following a strong 1Q20 earnings beat. In our view, first quarter results aren’t sustainable with commodity tailwinds abating and overall foodservice momentum slowing, as reflected in our modestly below consensus forecasts. Longer term, we think there could be upside to our model, in the meantime, we’ll look for a more palatable entry point consistent with historical relative valuation."

For an analyst ratings summary and ratings history on Lancaster Colony click here. For more ratings news on Lancaster Colony click here.

Shares of Lancaster Colony closed at $158.88 yesterday.

You May Also Be Interested In

• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
• DA Davidson Downgrades Blaize Inc. (BZAI) to Neutral
• Applied Industrial Technologies (AIT) PT Raised to $400 at DA Davidson