Mission Produce price target lowered to $12.50 from $18 at Roth MKM

Roth MKM analyst Gerry Sweeney lowered the firm’s price target on Mission Produce to $12.50 from $18 and keeps a Buy rating on the shares. The company’s Peru fruit will likely face headwinds from sizing and contracted price in conjunction with lingering costs, the analyst tells investors in a research note. Moving into FY24, efficiency and improved operations at the International Farming segment are likely a key focus point for Mission Produce, the firm states, adding that due to lower projected profitability at the International Farming segment, Roth MKM is reducing its price target.