FREE - Whole Earth Brands attracts new bull rating

Lake Street launches coverage on Whole Earth Brands (FREE) with a Buy rating.Analyst Mark Smith: "We think Whole Earth Brands is uniquely positioned at the forefront of the global secular shift away from sugar and the growing consumer interest in clean labels, natural ingredients, and healthy eating. The company's Branded CPG segment is taking market share and expanding shelf space in a large and growing $13B+ market opportunity and will serve as the foundation. Supplementing the growth is the Flavors & Ingredients business, a market leader in the licorice extract industry for over 100 years."Smith notes that Flavors & Ingredients is nearing completion of a plant optimization project and will capitalize on increased demand for natural ingredients, which could boost cash flow to support Branded CPG."The firm assigns a price target of $19 on FREE to rep more than 35% upside potential. The 52-week high for FREE is $14.29.

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Whole Earth Brands attracts new bull rating