Barclays downgraded Duckhorn Portfolio to Equal Weight from Overweight with a price target of $8, down from $11. The analyst expects both the industry backdrop and company-specific dynamics to temper Duckhorn’s growth for several more quarters. It will take a few more quarters for the industry to work through the impact of de-stocking across the value chain, the analyst tells investors in a research note. The firm also thinks Duckhorn’s distribution network revamp could create incremental disruption in the near-term.
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Read More on NAPA:
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