Deutsche Bank Downgrades Diamond Foods (DMND) to Hold; Valuation Call

Deutsche Bank downgraded Diamond Foods (NASDAQ: DMND) to Hold.

Deutsche analyst says, " Although we believe in the strategic logic behind the Pringles acquisition and management’s entrepreneurial approach to the snack category, our view is that recent stock performance and current valuation discounts some of these positives...We think the current stock / valuation accurately reflects short-term challenges (input cost pressure, consumer demand, competition) and long-term opportunities (Pringles-related revenue / cost synergies). If it becomes clearer that Pringles is adding more than expected, we could return to a positive opinion."

For more ratings news on Diamond Foods click here and for the rating history of Diamond Foods click here.

Shares of Diamond Foods closed at $76.23 yesterday.

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