Mission Produce Inc falls as brokerages cut PT

Mission Produce

23/12/2022 18:02

** Shares of avocado cultivator Mission Produce Inc  AVO.N 
fall ~15% to $12.48
    ** Company on Thursday reported Q4 adj profit of $0.13/shr
vs est $0.34 - Refinitiv
    ** J.P.Morgan cuts PT to $14 from $17; maintains "neutral"
rating 
    ** Company could take a couple of quarters to move past some
cost pressures and supply challenges - brokerage
    ** Stephens cuts PT to $15 from $20; maintains "overweight"
rating
    ** Brokerage views most of the headwinds as transitory in
nature, though lingering cost pressures are expected to be
permanent
    ** Company's shares down ~21% YTD
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com))