UPDATE: Cowen Starts Lancaster Colony (LANC) at Market Perform

Cowen analyst Brian Holland initiates coverage on Lancaster Colony (NASDAQ: LANC) with a Market Perform rating and a price target of $140.00.

The analyst comments "We cite three factors for being on the sidelines: 1) relatively high exposure to soybean oil, among the most inflationary inputs today; 2) private label exposure is less than optimal, given our concerns about demand elasticity and trade-down; and 3) implemention of a new ERP system this year, which carries inherent risk for disruption. We await improved visibility into a gross margin inflection."

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 $121.72 yesterday.

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