Canaccord Genuity Maintains a 'Hold' on Smart Balance (SMBL); Raising Estimates, But Waiting For More Development

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Canaccord Genuity maintains a 'Hold' on Smart Balance (NASDAQ: SMBL) price target of $6.50.

Analyst, Scott Van Winkle, said, "We continue to believe that Smart Balance has a favorable financial model and platform for growth in the healthier foods arena. HOLD rating maintained until new strategy develops...Raising 2012E EPS to $0.24 from $0.23, while slightly lowering revenue forecast to $329M. 2013E EPS unchanged at $0.31, as revenue fine-tuned to $349M."

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

Shares of Smart Balance closed at $5.60 yesterday, with a 52 week range of $4.47-$7.15.

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