Flowers Foods price target lowered to $12 from $15 at DA Davidson

DA Davidson lowered the firm’s price target on Flowers Foods (FLO) to $12 from $15 and keeps a Neutral rating on the shares after its Q3 results and guidance that reflected softening packaged bakery trends. The company’s asset base and route to market means it’s tethered to what may prove structurally pressured categories, the analyst tells investors in a research note.