The Duckhorn Portfolio, Inc. (NAPA) PT Raised to 'Street High' $23 at Jefferies

Jefferies analyst Kevin Grundy raised the price target on The Duckhorn Portfolio, Inc. (NYSE: NAPA) to a 'Street High' $23.00 (from $22.00) while maintaining a Buy rating following a positive wine distributor survey.

The analyst commented, "We lift our PTs for NAPA / STZ, which remain favored growth ideas, with our bullishSpring '21 US Wine Distributor survey (n = ~30). Our survey suggests low-double-digits (%) sales growth for NAPA over next 3-5 yrs (vs. Street ~9%) on continued premiumization trends (also + for STZ), (+) distributor efficiency ratings, and (+) retailer feedback re: NAPA's Decoy Seltzer. At 19.5x/16x (ex-WEED), NAPA / STZ offer scope tore-rate higher vs. growth comps at 24.5x."

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