Barclays lowered the firm’s price target on Duckhorn Portfolio to $6 from $8 and keeps an Equal Weight rating on the shares. The company’s FY24 guidance “cast a wide net of potential outcomes” for fiscal Q4 and “frankly it’s tough to try to pin point where exactly in that range the quarter will fall given the primary swing factor is distributor de-stocking where we have no real visibility,” the analyst tells investors in a preview note. However, what the firm thinks “matters much more” is the industry setup into FY25 and it has tempered its FY25 organic sales forecast by 50 basis points to better reflect an ongoing muted industry backdrop, the analyst added.