Farmer Bros. price target lowered to $3 from $3.50 at Roth Capital

Roth Capital lowered the firm’s price target on Farmer Bros. (FARM) to $3 from $3.50 and keeps a Buy rating on the shares following the fiscal Q1 report. The company is streamlining operations to maximize profitability but faces near-term headwinds from reduced restaurant traffic and higher coffee prices, the analyst tells investors in a research note. It sees these near term dynamics impacting Farmer Bros.’ results in the near term.