Stephens downgraded Hostess Brands (TWNK) to Equal Weight from Overweight with a price target of $34.25, up from $32, after J.M. Smucker (SJM) announced an agreement to purchase Hostess Brands for $34.25 per share in a cash and stock deal. The firm believes the deal “represents a well executed sale,” the analyst tells investors.
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Read More on TWNK:
- J.M. Smucker price target lowered to $135 from $157 at Deutsche Bank
- Hostess Brands downgraded to Hold from Buy at Truist
- J.M. Smucker (NYSE:SJM) Acquires Twinkies-Owner Hostess Brands in a $5.6 Billion Deal
- Hostess Brands jumps 17% to $32.98 after J.M. Smucker acquisition proposal
- The J. M. Smucker Co. to Acquire Hostess Brands to Accelerate Focus on Convenient Consumer Occasions