Duckhorn Portfolio price target raised to $11 from $6 at Barclays

Barclays analyst Lauren Lieberman raised the firm’s price target on Duckhorn Portfolio to $11 from $6 and keeps an Equal Weight rating on the shares. The firm views the proposed transaction with Butterfly Equity as likely to close given Duckhorn’s two largest shareholders have agreed to vote in favor of the deal and suspect the “go-shop” period is more of a sign of good faith to minority shareholders than anything else. The analyst added that the new price target is in-line with the proposed $11.10 per share deal price.