| Over a month ago | ||||
The Company is also… The Company is also providing its long-term financial targets as follows: compound volume growth in the high-single digit range, in-line with our expectations for industry growth rates; djusted EBITDA margins in the low-double digit range, excluding any material non-recurring events or extreme market conditions; ompound adjusted EBITDA growth in the low-double digit range. | ||||
Sees consolidated volume… Sees consolidated volume in the range of 155-165 million pounds and consolidated adjusted EBITDA in the range of $11.0-$12.5 million. | ||||
Reports Q4 revenue… Reports Q4 revenue $206.8M, consensus $205.28M. Steve Barnard, CEO of Mission Produce, commented, "I'm extremely proud of the organization we've built over the past 37 years and our #1 global leadership position in the industry. Our October IPO was yet another milestone for our company and we are pleased to be in a position to continue pursuing the significant growth opportunity that lies ahead. We have a leading global infrastructure that we continue to invest behind, which enables Mission to address the consumption trends that are driving our business both domestically and abroad. We look forward to growing this category through our year-round distribution capabilities and meet consumer demand for this popular Superfood." | ||||
| Over a quarter ago | ||||
Catch up on today's… Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Kronos Bio (KRON) initiated with a Buy at Goldman Sachs and Jefferies, as well as with an Overweight at Piper Sandler. 2. Spruce Biosciences (SPRB) initiated with an Outperform at Credit Suisse, Cowen, RBC Capital and SVB Leerink. 3. Gilead (GILD) resumed with an Equal Weight at Morgan Stanley. 4. Hookipa Pharma (HOOK) initiated with a Buy at Truist. 5. Mission Produce (AVO) initiated with a Buy at Roth Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here. | ||||
Roth Capital analyst… Roth Capital analyst Gerry Sweeney initiated coverage of Mission Produce with a Buy rating and $19 price target. The analyst says that his investment thesis is driven by expectations of increased per capita consumption of avocados. He anticipates Mission leveraging its distribution infrastructure to grow revenue 8%-plus annually, which drives annualized EBITDA growth of about 12.5% over the next three years. Sweeney also anticipates the U.S. being the cornerstone of growth near-term, with Europe and Asia building in importance. Mission's extensive and expanding infrastructure and vertical integration create significant barriers to entry, he adds. | ||||
BofA analyst Bryan… BofA analyst Bryan Spillane initiated coverage of Mission Produce (AVO) with a Buy rating and $17 price target. Mission is a pure-play fresh avocado global distributor positioned achieve expectations for Q4 through market share gains and modest margin expansion, Spillane tells investors in a research note. The company currently trades at a 30% discount to most direct comp Calavo Growers (CVGW), the analyst points out. | |
BofA initiated coverage… BofA initiated coverage of Mission Produce with a Buy rating and $17 price target. | |
JPMorgan analyst Thomas… JPMorgan analyst Thomas Palmer initiated coverage of Mission Produce with an Overweight rating and $18 price target. The analyst sees a "long runway "of EBITDA growth ahead, driven by distribution-driven volume and a higher percentage of avocados sourced from company-owned farms. He thinks the stock's current valuation presents a compelling entry point. | |
Citi analyst Sergio… Citi analyst Sergio Matsumoto initiated coverage of Mission Produce with a Buy rating and $16 price target. The company is a leader in the "growing" avocado market, having earned retailers' confidence as their preferred supplier, Matsumoto tells investors in a research note. The $6B U.S. avocado market has an attractive growth outlook of 5.5% annually over the next four years, says the analyst. | |
Stephens analyst Ben… Stephens analyst Ben Bienvenu initiated coverage of Mission Produce with an Overweight rating and $18 price target. He believes Mission is well positioned to continue to deliver strong volume growth and show improved profitability, adding that he thinks investments in its global sourcing platform and expansion into avocado farming supports future growth in a growing global avocado market. |