Canaccord Genuity Reiterates a 'Buy' on SunOpta (STKL); Adjusting Estimates After Sale of Purity Life

May 30, 2012 8:23 AM EDT
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Price: $7.50 +0.67%

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    10 Buy, 3 Hold, 0 Sell

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    Up: 30 | Down: 30 | New: 23
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Canaccord Genuity reiterates a 'Buy' on SunOpta (NASDAQ: STKL) price target of $7.50.

Analyst, Scott Van Winkle, said, "We continue to believe that SunOpta’s focus on natural and organic products will deliver strong growth with further benefit from a refocusing on its core food platforms."

"Adjusting estimates for last week’s agreement to divest Purity Life for C$14.7 million in cash to private equity firm Banyan Capital Partners. Our F2012 revenue and EPS estimates get revised to $1.11B/$0.38 from $1.15B/$0.39, while F2013 resets to $1.16B/$0.45 from $1.22B/$0.46."

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

Shares of SunOpta closed at $5.93 yesterday.

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