UPDATE; Deutsche Bank Reiterates Hold, Suspends PT on Diamond Foods
Deutsche Bank maintains its Hold rating on Diamond Foods (NASDAQ: DMND) as it suspends its price target on the stock awaiting the Board's Audit Committee review.
Deutsche Bank says, “Given the likely binary outcome once the Audit Committee relates its findings, the stock has been and probably remains highly volatile as investors try to decipher potential scenarios. With such volatility and no updated financial results for some time, our HOLD opinion remains appropriate. Moreover, in our view, only investors with significant tolerance for risk should look at Diamond given current dynamics.”
DMND closed at $29.69 per share on Tuesday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.