UPDATE - Canaccord Genuity Initiates Coverage on Annie's (BNNY) with a Hold; Valuation Already Reflects Favorable Outlook

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UPDATE - Canaccord Genuity initiates coverage on Annie's (Nasdaq: BNNY) with a Hold. PT $40.

Analyst, Scott Van Winkle, said, "We believe Annie’s enjoys one of the strongest brands in the natural/organic food industry, which along with a highly efficient business model and favorable sector growth should deliver strong growth, high margins and impressive financial returns...our enthusiasm for the growth and profit outlook balanced with our belief that the valuation is full and already reflects the favorable outlook."

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