The Duckhorn Portfolio, Inc. (NAPA) PT Lowered to $25 at Jefferies

Jefferies analyst Kevin Grundy lowered the price target on The Duckhorn Portfolio, Inc. (NYSE: NAPA) to $25.00 (from $27.00) after the company beat F2Q expectations and raised its outlook.

The analyst reiterated a Buy rating, stating "Continued premiumization trends (a watch point in current envt.), further recovery in on premise, strong distribution gains in off-premise, and limited input cost pressure drove the (+) results. NAPA remains a favored small-cap growth idea given its (+) positioning in premium wine, "strategic optionality," and (+) valuation at 17x NTM EV/EBITDA. Buy, PT to $25 on lower mkt multiple."

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