Lake Street sees ‘a lot to like’ in Calavo Growers Q1 report

Lake Street analyst Ben Klieve says Calavo Growers (CVGW)’ Q1 results were in-line-to-better and the firm calls out “two significant positive developments,” namely the indefinite postponement of the FCPA investigation and initial inflows from a material deferred tax asset from Mexican authorities. Avocado sector conditions remain healthy and Calavo enters its seasonally strongest period with “the most Q1 momentum we have seen in several years,” says the analyst, who reiterates a Buy rating and $35 price target on the shares.