Canaccord Genuity Says Annie's (BNNY) has Strong Brand but Stock Not Buy

Canaccord Genuity maintained a Hold rating on Annie's, Inc. (NYSE: BNNY) and trimmed its price target to $40.00 (from $42.00).

"We believe Annie's enjoys one of the strongest brands in the natural/organic food industry along with a highly efficient business model and favorable sector growth," said analyst Scott Van Winkle.

He warned that Annie's penny miss on earnings could create volatility given the stock's high valuation, though the sales outlook improved.

For an analyst ratings summary and ratings history on Annie's, Inc. click here. For more ratings news on Annie's, Inc. click here.

Shares of Annie's, Inc. closed at $39.50 yesterday.

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