Farmer Bros. Has An Opportunity To Expand Sales At An Attractive Rate, Says Roth Capital
In a research note published this morning, Roth Capital analyst Anton Brenner reiterated coverage with a “Buy” rating on Farmer Brothers Co. (FARM) and a price target of $25.00 a share following a meeting between FARM’s management and institutional investors.
Brenner noted, “We recently visited institutional investors with Mike Keown, President and CEO, and Mark Nelson, CFO. Discussions included updates on recent new account additions, cost reduction progress and opportunities, new product opportunities, real estate strategy, potential acquisitions and dividends. It is clear to us that FARM has an opportunity to expand sales at an attractive rate and increase profit margins significantly over the next several years”.
According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, analyst Anton Brenner currently has a one-year average return of 30.5% and a 57% success rate. He is ranked #756 out of 3123 analysts.