UPDATE: Goldman Sachs Downgrades Blue Apron (APRN) to Neutral
(updated to add analyst comment)
Goldman Sachs downgraded Blue Apron (NYSE: APRN) from Buy to Neutral with a price target of $6.00 (from $11.00).
Analyst Heath Terry says logistical issue highlight the challenges sub-scale competitors face in the space. The analyst will need management to prove that it can solve the operational issues before he can confirm he sees any opportunity for the stock to outperform.
FY 2017 EPS estimate falls from ($0.79) to ($1.61), FY 2018 EPS estimate falls from ($0.49) to ($0.66) and FY 2019 EPS estimate falls from ($0.33) to ($0.55)
For an analyst ratings summary and ratings history on Blue Apron click here. For more ratings news on Blue Apron click here.
Shares of Blue Apron closed at $6.24 yesterday.