Stephens & Co. Maintains Overweight Rating for Mission Produce: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Stephens & Co. has maintained its Overweight rating on Mission Produce (NASDAQ:AVO) but reduced its price target from $13.00 to $12.00. Mission Produce's shares have fallen 5.43% to $9.05. The new target implies a 32.6% upside. Mission Produce operates in avocado production and distribution, with additional services like ripening and logistical management. The company earns most revenue from its Marketing and Distribution segment.
December 22, 2023 | 5:00 pm
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Stephens & Co. reaffirmed an Overweight rating on Mission Produce but lowered the price target to $12, indicating a potential 32.6% increase from the current price.
The maintenance of an Overweight rating suggests that Stephens & Co. remains positive on Mission Produce's outlook despite a reduction in the price target. The new target still represents a significant upside from the current trading price, which could be seen as an opportunity for investors. However, the recent drop in share price may indicate market skepticism or other factors not discussed in the article that could temper short-term performance.
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