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Diamond Foods, Inc. Message Board

  • blutribe27 blutribe27 Jan 13, 2012 3:30 PM Flag


    MARKET TALK: Too Much Drama At Diamond Foods For KeyBancLast update: 1/13/2012 1:54:37 PM1:54 (Dow Jones) While remaining a fan, KeyBanc admits that the saga that is Diamond Foods (DMND) is too much for investors to overcome at the moment. It downgrades the snack maker to hold and pulls its $76 price target in the wake of The Wall Street Journal's report that federal prosecutors are looking at whether financial practices involved criminal fraud. "Although we continue to believe DMND's management team will be vindicated and think the stock is undervalued, it is impossible to defend the stock when so many high-profile agencies are investigating/inquiring into the company's practices and the management team has its hands tied." In a worse-case scenario, KeyBanc says DMND shares are worth at least a $44 breakup value. They're down 12% today at $29.20. ( Call us at (212) 416-2354 or email (END) Dow Jones NewswiresJanuary 13, 2012 13:54 ET (18:54 GMT)

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