BofA downgraded Duckhorn Portfolio to Underperform from Neutral with a price target of $8, down from $11, to reflect further softening in the premium wine segment. The firm lowered its 2024, 2025 and 2026 sales estimates by 0.5%, 2.3% and 3.9%, respectively, as it notes that premium wine fundamentals slowed further in December and that Duckhorn will face increasingly hard comparisons in its second half of the fiscal year.
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