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:
- Duckhorn Portfolio price target lowered to $11 from $12.50 at Citi
- Duckhorn Portfolio price target lowered to $11 from $13 at Barclays
- Duckhorn Portfolio price target lowered to $15 from $17 at RBC Capital
- Duckhorn Portfolio sees FY24 EPS 63c-65c, consensus 66c
- Duckhorn Portfolio reports Q2 EPS 18c, consensus 18c
