Fraser Mackenzie Downgrades SunOpta (STKL) to Buy Due to Recent Run Up

Fraser Mackenzie downgraded shares of SunOpta (NASDAQ: STKL) to a Buy rating from its previous rating of Strong Buy following the recent run up in the shares price. The firm is reiterating its price target of $6.00.

The firm anticipates the company will release its quarterly results within the next two weeks and forecasts earnings will be $0.03 per share on $271 million in total sales, mixed with the Street's consensus of $0.07 and $258.05 million.

An analyst at Fraser Mackenzie comments, "We foresee further earning improvement in 2012 growing to $0.40 per share based on continued growth in the natural and organics segment and a focus on profitability enhancement."

For an analyst ratings summary and ratings history on SunOpta click here. For more ratings news on SunOpta click here.

Shares of SunOpta closed at $5.05 yesterday.

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