MGP Ingredients price target lowered to $20 from $22 at TD Cowen

TD Cowen lowered the firm’s price target on MGP Ingredients (MGPI) to $20 from $22 and keeps a Hold rating on the shares. The firm said 1Q26 results were broadly in line with expectations as management reaffirmed full-year guidance. That said, the magnitude of declines and the temporary idling of two Kentucky distilleries underscores the lack of visibility into an inflection point.