MGP Ingredients (MGPI) PT Lowered to $45 at TD Cowen

TD Cowen analyst Vivien Azer lowered the price target on MGP Ingredients (NASDAQ: MGPI) to $45.00 (from $50.00) while maintaining a Hold rating.

The analyst comments "After a tumultuous 12-month tenure, David Bratcher will step down from the President & CEO role. CFO Brandon Gall will serve as interim President & CEO. Donn Lux will become Chairman of the Board and lead the search for a permanent CEO. We believe these were necessary steps to help re-establish investor confidence, but still view MGPI's branded spirits transformation as a "show me" story."

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