Lancaster Colony downgraded to Equal Weight from Overweight at Stephens

Stephens downgraded Lancaster Colony to Equal Weight from Overweight with a price target of $218, up from $205. While the firm continues to believe Lancaster’s diversified business model represents a competitive advantage relative to peers, it is downgrading shares as it believes the strong performance thus far in 2024 with shares up about 23% year-to-date creates a more balanced risk/reward setup.