UPDATE: Imperial Capital Initiates Coverage on SunOpta with Outperform Rating, $13 PT on Great Upside Potential

In a report published Thursday, Imperial Capital analyst Mitchell B. Pinheiro initiated coverage on

with an Outperform rating and $13.00 price target. In the report, Imperial Capital noted, “We are initiating coverage of SunOpta, Inc. (STKL) with an Outperform rating and one-year price target of $13, implying upside potential of greater than 30% from recent levels. Our positive thesis is predicated on STKL's long-term strategic positioning in the natural and organic sector, the fastest growing segment of the consumer packaged goods sector, along with the outlook for improved profitability and ROIC as the business transforms from a low-margin ingredient supplier to a manufacturer of higher margin, value-added ingredients and consumer packaged goods.” SunOpta closed on Wednesday at $9.68.