Evercore ISI analyst Robert Ottenstein lowered the firm’s price target on Duckhorn Portfolio (NAPA) to $15 from $17 and keeps an Outperform rating on the shares. Echoing commentary from Brown-Forman (BF.B), Duckhorn noted a weaker consumer environment and lowered its FY24 outlook. The firm cites lower estimates, increased earnings risk, and lower market valuations in the beverage and spirits space for its lowered target.
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