Duckhorn Portfolio price target lowered to $13 from $15 at Wedbush

Wedbush lowered the firm’s price target on Duckhorn Portfolio to $13 from $15 and keeps an Outperform rating on the shares. Duckhorn’s Q1 results missed on both the top and bottom line, though Street estimates were too high, specifically on revenue, the analyst tells investors in a research note. Additionally, Duckhorn guided down on its FY outlook for revenue, and called out signs of a softening in consumer sentiment and luxury wine trends, the firm says.