Diamond Foods Upgraded to Hold at Jefferies Group (DMND)
Jefferies Group upgraded shares of Diamond Foods (NASDAQ: DMND) from an underperform rating to a hold rating in a research report released on Wednesday morning, TheFlyOnTheWall.com reports. Jefferies Group currently has $15.00 price target on the stock, up from their previous price target of $11.00.
“We are raising DMND to Hold from Underperform with a new $15 PT as our bear thesis of combined revenue and margin pressure did not play out. Even though DMND continues to face revenue losses, the company apparently cut enough unprofitable SKUs and reduced costs to enhance margins, an event that we had underestimated. Together with the potential for eventually covering the remaining 29% of short interest, we see only limited downside.,” the firm’s analyst wrote.
Jefferies Group has also updated their ratings on a number of other consumer goods stocks in the last week. The firm reiterated its hold rating on shares of General Mills. They have a $40.00 price target on that stock. Also, Jefferies Group reiterated its hold rating on shares of Kellogg. They have a $60.00 price target on that stock.
A number of other firms have also recently commented on DMND. Analysts at Northland Securities raised their price target on shares of Diamond Foods from $13.00 to $15.00 in a research note to investors on Tuesday. They now have a market perform rating on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of Diamond Foods from $13.00 to $14.00 in a research note to investors on Tuesday. They now have a market perform rating on the stock. Finally, analysts at DA Davidson downgraded shares of Diamond Foods from a buy rating to a neutral rating in a research note to investors on Tuesday.
Diamond Foods (NASDAQ: DMND) opened at 16.17 on Wednesday. Diamond Foods has a 52-week low of $12.85 and a 52-week high of $28.29. The stock’s 50-day moving average is currently $15.4. The company’s market cap is $356.9 million.
Diamond Foods, Inc. (Diamond) is a packaged food company focused on building, acquiring and energizing brands.
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