BMO Capital analyst Andrew Strelzik lowered the firm’s price target on Duckhorn Portfolio to $13 from $14 and keeps a Market Perform rating on the shares. The company’s acquisition of Sonoma-Cutrer represents a good fit with attractive growth to support its long-term ambitions, though the financial implications are minimal, the analyst tells investors in a research note. The firm is also updating its model, with lower price target “reflecting slower scanner data”.
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Read More on NAPA:
- Duckhorn Portfolio to acquire Sonoma-Cutrer Vineyards from Brown-Forman
- Duckhorn Portfolio initiated with a Buy at Jefferies
- Duckhorn Portfolio price target lowered to $12 from $14 at Barclays
- Duckhorn Portfolio price target lowered to $14 from $16 at Barclays
- Consumer risks to remain overhang on Duckhorn shares, says BMO Capital
