Limoneira shares likely trade down on Q4 bottom line miss, says Lake Street

Lake Street analyst Ben Klieve noted that Limoneira beat on the top line in Q4, but missed on the bottom line versus his estimates and consensus. While he anticipates shares will trade down on the bottom line miss and Harvest at Limoneira timing, it is not "quarterly results in its seasonally weakest period," but continued anticipation of material de-leveraging throughout FY23 reshaping the company’s growth and profitability potential that leads him to advocate Limoneira for value investors, the analyst said. He maintains a Buy rating and $19 price target on the shares, which are down $1.73, or 13%, to $11.60 in pre-market trading.