UPDATE: Canaccord Genuity Initiates Coverage on Annies

According to a research report published this morning, Canaccord Genuity has initiated Annies

with a Hold rating and $40 PT. In the report, Canaccord Genuity said, "We believe Annie's enjoys one of the strongest brands in the natural/organic food industry, which along with a highly efficient business model and favorable sector growth should deliver strong growth, high margins and impressive financial returns." Annies is currently trading at $37.11.