UPDATE: Stifel Nicolaus Terminates Coverage on Primo Water Following Reallocation of Resources
In a report published Tuesday, Stifel Nicolaus analyst Jim Duffy terminated coverage on Primo Water (NASDAQ: PRMW).
In the report, Stifel Nicolaus noted, “Due to a reallocation of resources, we are discontinuing coverage of the Primo Water Corporation stock. Our prior estimates for FY13E revenue and adjusted EBITDA were $93.1mn and $7.5mn, respectively. Our prior rating on PRMW was a Hold. Note that we do not believe the estimates or rating should be used as an indicator for the company going forward.”
Primo Water closed on Monday at $1.82.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.