Flowers Foods price target lowered to $16 from $20 at Jefferies

Jefferies lowered the firm’s price target on Flowers Foods (FLO) to $16 from $20 and keeps a Hold rating on the shares. The company reported a slight Q1 miss driven by softness in its away-from-home business and less benefit from Simple Mills, the analyst tells investors in a research note. The firm says Flowers “painted a bleak picture of the consumer and spoke to more promotional intensity needs.”