Limoneira price target lowered to $23 from $25 at Lake Street

Lake Street lowered the firm’s price target on Limoneira (LMNR) to $23 from $25 and keeps a Hold rating on the shares. Seasonally weak first quarter results were “just that,” as lemon prices fell 13% year-over-year, though the outlook for a strong avocado year, despite a biannual yield trough, and water rights monetization “appears to be a potential catalyst within FY25,” the analyst tells investors in an earnings recap.