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UPDATE: Jefferies & Company Reiterates Underperform Rating, Raises PT on Diamond Foods

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In a report published Monday, Jefferies & Company reiterated its Underperform rating on Diamond Foods (NASDAQ: DMND), and slightly raised its price target from $10.00 to $11.00.

Jefferies noted, “DMND filed its FY12 10-K at the deadline and the company's financials were slightly better than we expected. However, latest scanner data shows that the operational challenges are just beginning. Gross margins were better than we had assumed – presumably due to the summer mix shift to snacks –but we still see pressure for at least 1Q13. We maintain our Underperform rating at a new $11 (+$1) price target.”

Diamond Foods closed on Friday at $14.81.

Latest Ratings for DMND

DateFirmActionFromTo
Jun 2014Credit SuisseInitiates Coverage onOutperform
Jun 2014BarclaysUpgradesEqualweightOverweight
Jun 2014KeyBancUpgradesHoldBuy

View More Analyst Ratings for DMND
View the Latest Analyst Ratings

Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings

 

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