BGS - B&G Foods Shares Diving Today: What's Going On? | Benzinga
B&G Foods Inc (NYSE: BGS) shares are trading lower by around 11% after Piper Sandler analyst Michael S. Lavery downgraded it to Underweight from Neutral at a lowered price target to $8 from $14.
The analyst is bearish as the company's Q3 US measured retail sales are declining (-11.5%, per SPINS/IR) and below analysts' expectations.
Lavery now expects a Q3 organic revenue decline of 7.5% (vs. -4.5% projected earlier).
The analyst also notes the ...