Duckhorn Portfolio price target lowered to $15 from $17 at RBC Capital

RBC Capital lowered the firm’s price target on Duckhorn Portfolio to $15 from $17 after its in-line Q2 and below-consensus guide, but keeps an Outperform rating on the shares. Continued category softness led retailers to manage inventories more tightly than the company had expected, driving a topline miss in Q2 and reduced guidance, though the firm continues to believe that the Sonoma-Cutrer acquisition comes at a favorable time, which should support Duckhorn’s growth in the years ahead, the analyst tells investors in a research note.