Market Overview

UPDATE: DA Davidson Cuts PT to $20 on Diamond Foods Following Q1 Results

Share:
Related DMND
Diamond Food Shares Up 2%, Beats Q1 EPS Estimates
#PreMarket Primer: Tuesday, December 9: Crude Prices May Not Have Bottomed Out Yet
Strong growth for ready-to-eat popcorn (Seeking Alpha)

DA Davidson reiterated its Buy rating on Diamond Foods (NASDAQ: DMND) but reduced its price target from $30 to $20.

DA Davidson said, "We are reducing our price target to $20 previously $30 based on the reduction in confidence we perceive as a result of the missed opportunity of the Q1 call. We think Diamond has three important tasks for the next year: 1) stabilize the business; 2) rebuild confidence with the walnut growers; and 3) rebuild confidence with the investment community. Management does appear to be stabilizing the business and did reiterate the description of FY13 being a transition (up versus FY12) year. We don't know if they have rebuilt confidence with growers, but we do know that the lack of guidance and the contradictory accounting treatments in Adjusted EPS leave us wanting more and better."

Diamond Foods closed at $13.96 on Monday.

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: DA DavidsonAnalyst Color Price Target Pre-Market Outlook Analyst Ratings

 

Related Articles (DMND)

Around the Web, We're Loving...

Get Benzinga's Newsletters