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NBEV

New Age Beverages

$6.48

0.11 (1.73%)

11:21
02/13/19
02/13
11:21
02/13/19
11:21

Northland taking 'conservative' view of New Age Beverages' 2019 results

Northland analyst Mike Grondahl said in a note prior to the open that he believes the fact that new shelf space for larger retailers is generally not available until March/April/May of 2019 presents a challenge to Q$ revenues and earnings for New Age Beverages. Also noting that shipping of new CBD products "remains in limbo due to uncertainty from the FDA," Grondahl lowered his estimates and said he is taking a "conservative look" at 2019 for the company. However, he continues to believe New Age is well positioned for the next few years and keeps an Outperform rating on the shares.

NBEV New Age Beverages
$6.48

0.11 (1.73%)

09/21/18
09/21/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Bluebird Bio (BLUE) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Salveen Richter saying rating change is is not driven by concerns around Bluebird's pipeline execution or emerging competitive threats. The analyst just believes appreciation of key aspects of his investment thesis are better reflected in the shares at current valuation levels. 2. Venator Materials (VNTR) downgraded to Neutral from Overweight at JPMorgan with analyst Jeffrey Zekauskas saying he believes lower prices and higher raw material costs for TiO2, coupled with higher capital expenditures, diminishes Venator's free cash flow outlook. 3. Antero Resources (AR) downgraded to Market Perform from Outperform at BMO Capital with analyst Phillip Jungwirth citing valuation. 4. New Age Beverages (NBEV) downgraded to Hold from Buy at Maxim. 5. Rowan Companies (RDC) downgraded to Hold from Buy at HSBC. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/03/18
ROTH
12/03/18
NO CHANGE
ROTH
New Age Beverages price target raised to $10 from $7 at Roth Capital
Roth Capital analyst David Bain maintained a Buy rating on New Age Beverages and raised his price target to $10 from $7, following the company's definitive agreement to acquire e-commerce/home delivery company Morinda Holdings for around $85M. Bain believes the acquisition "significantly improves" both base and upside valuation cases.
12/04/18
ROTH
12/04/18
NO CHANGE
Target $11
ROTH
Buy
Roth ups New Age Beverages target to $11 on Morinda acquisition
Following this morning's conference call detailing its definitive agreement to acquire Morinda, Roth Capital analyst David Bain raised his price target for New Age Beverages to $11 from $10 and reiterates a Buy rating on the shares. Morinda offers an "instantaneous, unique, world-wide" distribution platform for both New Age's current product portfolio as well as its "upcoming, potentially disruptive" offerings in cannabidiol and health sciences, Bain tells investors in a research note. The analyst adds that his new price target does not take into account announced 2019 revenue synergies from the merger or potential 2020 growth from Morninda.
01/07/19
NORL
01/07/19
NO CHANGE
Target $8
NORL
Outperform
New Age Beverages price target raised to $8 from $6 at Northland
Northland analyst Mike Grondahl raised his price target on New Age Beverages to $8 from $6, stating that he sees the important point of the Morinda Holdings acquisition being how well New Age can utilize the 160,000 DTC distribution points to sell other brands in its portfolio, especially its CBD products. He believe New Age's CBD products could ship in the near-term, stating that the Farm Bill passage should make distribution of CBD products "less of a headache." Grondahl maintains an Outperform rating on New Age Beverages shares.

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