Hostess Brands (TWNK) Conference Takeaways - Jefferies

June 25, 2020 7:42 AM EDT
Get Alerts TWNK Hot Sheet
Price: $16.21 +1.69%

Rating Summary:
    10 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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Jefferies analyst Rob Dickerson reiterated a Buy rating and $15.00 price target on Hostess Brands (NASDAQ: TWNK) after Andy Callahan (CEO) and Brian Purcell (CFO) spoke at the Jefferies Virtual Consumer Conference. Commentary indicated that the business is doing better than feared, with demand strong in the food/dollar channels and the c-store channel having rebounded vs. three months ago.

The analyst believes consensus for Q2 sales growth is low stating "Given recent tracked channel
retail trends and mgmt. commentary around retail channel growth, the return of the c-store channel, faster near-term category growth, stepped-up HH penetration, 2H category potential (“bringing Halloween home”), and company capacity and share gain potential, we’re increasing our organic sales growth estimates for Q2 and 2020 to 2.3% y/y (vs. our prior 0.5%) and 3.7% (vs. our prior 3%), respectively, which compares to basically flat Q2 and 3% consensus".

For an analyst ratings summary and ratings history on Hostess Brands click here. For more ratings news on Hostess Brands click here.

Shares of Hostess Brands closed at $12.23 yesterday.



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