Canaccord Genuity Maintains a 'Buy' on Jamba (JMBA); Adjusting The Model Slightly

September 7, 2012 9:16 AM EDT
Get Alerts JMBA Hot Sheet
Price: $9.30 --0%

Rating Summary:
    2 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 13 | New: 10
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Canaccord Genuity maintains a 'Buy' on Jamba (NASDAQ: JMBA) price target of $3.00.

Analyst, Scott Van Winkle, said, "We maintain our rating and continue to believe that Jamba has long had the brand and the product focus, but has now successfully developed the operating model for an efficient and profitable company...We are adjusting our model to reflect the recent conversion of 75,000 preferred shares to common by Mistral Equity Partners."

"The shares trade at what we feel is a reasonable level of 9x our F2013 EBITDA forecast. Our $3.00 price target reflects an 11x multiple applied to our F2013 EBITDA forecast, which reflects peer valuations in the natural/healthy food segment."

For an analyst ratings summary and ratings history on Jamba click here. For more ratings news on Jamba click here.

Shares of Jamba closed at $2.43 yesterday.

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