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REED

Reed's

$1.30

(0.00%)

16:12
09/30/19
09/30
16:12
09/30/19
16:12

Reed's announces restructuring, appoints John Bello as interim CEO

Reed's announced a restructuring of its executive leadership team to accelerate its continued business transformation to an efficient and effective asset-light model. The leadership changes include the appointment of John Bello, currently Chairman of the Board of Directors, as Interim Chief Executive Officer and the appointment of Norman E. Snyder, Jr. as Reed's Chief Operating Officer. Additionally, the Company has announced preliminary third quarter 2019 net sales. "Today's announcement reflects the Board's decision to adjust our leadership team to align with the stage of our business development. The Company has executed the initial stages of its business transformation to a brand platform business model centered on Healthy Refreshment. With the divestiture of manufacturing, Reed's will focus on building world class brands through on-trend product innovation, effective sales and powerful marketing. We have now entered a key next stage of our business transformation, where we are focused on executing the further development of our outsourced supply chain to support the anticipated growth of our core brands as we expand our sales and marketing efforts," said John Bello, Chairman and Interim CEO of Reed's, Inc. "As we enter this next phase in our growth, it is crucial to develop a team with the experience and skills to execute our new business model. I will leverage my beverage industry experience to provide the guidance to drive these important business activities while partnering with and building our talented team to support our expanding sales, marketing and product development efforts."

  • 01

    Oct

REED Reed's
$1.30

(0.00%)

04/26/19
LSCM
04/26/19
INITIATION
Target $6
LSCM
Buy
Reed's initiated with a Buy at Lake Street
Lake Street analyst Chris Krueger started Reed's with a Buy rating and $6 price target. The analyst believes the company is well positioned to take advantage of the "healthy consumer trend with its unique, handcrafted beverage products." Reed's will return to growth mode in 2019, with increasing margins, Krueger tells investors in a research note. He believes the company can grow sales annually at 20% for the next several years and could eventually become a takeout candidate for a larger beverage company. The stock should move higher as Reed's is awarded a growth multiple and revenues accelerate, contends Krueger.
04/26/19
04/26/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Vail Resorts (MTN) initiated with a Buy at SunTrust. 2. Tocagen (TOCA) initiated with an Overweight at Cantor Fitzgerald. 3. Dow Inc. (DOW) initiated with a Hold at Argus. 4. Gilead (GILD) initiated with an Outperform at Bernstein. 5. Reed's (REED) initiated with a Buy at Lake Street. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/10/19
RFLF
05/10/19
INITIATION
Target $5
RFLF
Buy
Reed's initiated with a Buy at RF Lafferty
RF Lafferty analyst Roger Duan started Reed's with a Buy rating and $5 price target, citing the company's accelerating growth under new management, its leading position in craft beverages and its launch of several new products, including some with CBD.
05/10/19
05/10/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Wayfair (W) initiated with a Sell at Berenberg. 2. United Technologies (UTX) initiated with a Neutral at Seaport Global. 3. Alcon (ALC) initiated with an Outperform at Baird. 4. Pinterest (PINS) initiated with a Buy at Nomura Instinet and a Hold at Argus. 5. Reed's (REED) initiated with a Buy at RF Lafferty. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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