BofA downgraded Duckhorn Portfolio to Neutral from Buy with a price target of $11, down from $15. Following Q1 of 2024, the company expects a softer consumer environment but assumes a reacceleration in the second half of the year growth, the analyst tells investors in a research note. The firm, however, currently sees little evidence pointing to a recovery of that magnitude and looks for more concrete trends to materialize before underwriting a stronger second half of 2024.
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