Hostess Brands (TWNK) Conference Takeaways - Jefferies
- Wall Street surges to all-time closing high on earnings, economic revival
- Was Intel's (INTC) Second Quarter a Speedbump or Inflection?
- Twitter (TWTR) Gains After Beating Q2 Estimates, Analysts Raise PTs as Brand Recovery Accelerates
- U.S. dollar on track for second week of gains; Fed meeting in focus
- Snap (SNAP) Surges 17% After Smashing Q2 Views Across the Board to Yield a Dozen Price Target Hikes
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
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".
Shares of Hostess Brands closed at $12.23 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Boston Beer Company (SAM) PT Lowered to $685 at Jefferies as Visibility is Now "Murky"
- Intel (INTC) PT Lowered to $52 at Jefferies as Margin Pressure Begins and Will Likely Remain
- Danaher (DHR) PT Raised to $325 at Jefferies
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!