UPDATE: Citi Upgrades B&G Foods (BGS) to Buy

(updated to add analyst comment)

Citi upgraded B&G Foods (NYSE: BGS) from Neutral to Buy with a price target of $43.00.

Analyst Cornell Burnette is positive on the resurgence of Green Giant franchise and notes the current valuation appears cheap.

"...we believe the risk/reward balance has tilted in favor of our Buy rating and see investor sentiment on the stock improving over the coming quarters behind an improving organic sales growth profile."

For an analyst ratings summary and ratings history on B&G Foods click here. For more ratings news on B&G Foods click here.

Shares of B&G Foods closed at $35.80 yesterday.

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