MGP Ingredients On Verge Of Growth In Food, Spirits Markets
In a recent analysis, Wedbush Securities reaffirmed its confidence in MGP Ingredients Inc. (NASDAQ:MGPI), a leading supplier of premium distilled spirits and specialty wheat proteins and starches.
Equity research analyst and upcoming Benzinga Cannabis Capital Conference speaker Gerald Pascarelli reiterated a Buy rating on the stock, setting a price target of $120.
Industry Standing And Future Prospects
MGP Ingredients has distinguished itself in the food and beverage market with its diversified offerings and strategic market positioning. The company’s latest earnings for the quarter ending Sept. 30 highlighted a revenue of $211.62 million and a net profit of $13.21 million, demonstrating growth from the previous year’s figures of $201.15 million in revenue and a net profit of $23.81 million. These financials reflect MGP Ingredient’s robust operational framework and adaptability in a dynamic market landscape.
The broader analyst consensus mirrored Pascarelli’s optimistic outlook, with a …