UPDATE: Canaccord Genuity Reiterates Hold Rating, Raises PT on Annie's

In a report published Monday, Canaccord Genuity reiterated its Hold rating on Annie's BNNY, and raised its price target from $40.00 to $42.00. Canaccord noted, “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...The Frannie's frozen pizza launch (certified and made with organic) is progressing nicely and appears ahead of schedule, with the launch announced last week.” Annie's closed on Friday at $42.46.