JPMorgan downgraded Hostess Brands to Neutral from Overweight with an unchanged price target of $28. The analyst also removed the shares from the firm’s Analyst Focus List. The stock is now close to the price target following media reports about the company potentially being for sale, the analyst tells investors in a research note. The firm can see an argument for a potential takeout price above $28 per share, but does not “necessarily think it needs to be significantly above this level.”
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