SunOpta initiated with a Buy at Mizuho

Mizuho initiated coverage of SunOpta with a Buy rating and $9 price target. The company offers investors “differentiated exposure” to the structural growth of plant-based beverages and ready-to-drink protein nutrition, the analyst tells investors in a research note. The firm says SunOpta’s branded and private label customers afford investors diversified exposure to categories with growth as strong as high-single-digits. It believes the stock’s pressure year-to-date more than discounts recent revenue delays and offers an attractive risk/reward.