In a report published Friday, Oppenheimer analyst Joseph Altobello downgraded the rating on SodaStream (NASDAQ: SODA) from Outperform to Perform, and removed the $85.00 price target.
In the report, Oppenheimer noted, “We are downgrading SodaStream to Perform from Outperform and removing our prior DCF-derived $85 target price. We believe a handful of factors, including a difficult base period that benefited from the launch into Wal-Mart and some de-stocking around the launch of the new Source machine, will lead to somewhat choppy 2Q results and limit upside to our estimates.”
SodaStream closed on Thursday at $62.52.
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Posted in: Analyst Color, Downgrades, Analyst Ratings