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UPDATE: Feltl and Company Initiates Limoneira at Strong Buy on Transformation Outlook

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Feltl and Company initiated coverage on Limoneira (NASDAQ: LMNR) with a Strong Buy rating and a $30.56 price target.

Feltl and Company said, "LMNR is positioned for a significant long-term transformation as it will soon (2014) start to develop and sell some of its extensive Southern California real estate and begin a long-term substantial build of its Agribusiness production acres elsewhere. Essentially, LMNR will convert agricultural land in Ventura and Santa Barbara counties into development property to be sold at high values and use the proceeds from these sales to buy much more land at much lower per acre prices with similar agriculture productivity in or near Tulare County (north of Bakersfield)."

Limoneira closed at $17.91 on Tuesday.

Latest Ratings for LMNR

DateFirmActionFromTo
Oct 2012Feltl and CompanyInitiates Coverage onStrong Buy
Jul 2012Roth CapitalInitiates Coverage onBuy

View More Analyst Ratings for LMNR
View the Latest Analyst Ratings

Posted-In: Feltl And CompanyAnalyst Color Initiation Intraday Update Analyst Ratings

 

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