Lifeway Foods downgraded to Market Perform from Outperform at Noble Capital

Noble Capital downgraded Lifeway Foods to Market Perform from Outperform. The firm cites valuation for the downgrade with the shares above its recently instituted $13 price target. The analyst remains “impressed” with Lifeway’s operating results, but believes a good portion of the recent share performance is being driven in anticipation of a sale of the company, which it does not believe is imminent