Canaccord Genuity initiates its coverage on Annie's BNNY with a Hold rating and a $40 price target.
Canaccord Genuity says, "Initiating coverage with a HOLD rating and $40 price target, which reflects our enthusiasm for the growth and profit outlook balanced with our belief that the valuation is full and already reflects the favorable outlook. …The natural/organic sector is robust and Annie's opportunity to expand its brand into a multitude of additional categories should support attractive long-term growth."
BNNY closed at $37.02 on Friday.
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