B&G Foods price target lowered to $10 from $15 at Barclays

Barclays lowered the firm’s price target on B&G Foods to $10 from $15 and keeps an Equal Weight rating on the shares. While volumes have been the prevailing narrative in staples for several months now, the risk of GLP-1s as a secular headwind and the cyclical drag of higher rates “have taken center stage in the past week,” the analyst tells investors in a research note. The firm dropped the price target in a preview of the sector’s Q3 earnings reports.