Flowers Foods price target lowered to $10 from $15 at Truist

Truist lowered the firm’s price target on Flowers Foods (FLO) to $10 from $15 and keeps a Hold rating on the shares after its “mixed” Q3 results and narrowed guidance. The worse-than-expected sales and lower gross margin were more than offset by lower SD&A expense to drive the EPS beat, the analyst tells investors in a research note. Despite several favorable tailwinds, the company has historically been inconsistent with expectations, the firm added.