Limoneira price target raised to $31 from $23 at Roth MKM

Roth MKM raised the firm’s price target on Limoneira (LMNR) to $31 from $23 and keeps a Buy rating on the shares. The company continues to optimize its agricultural operations through an asset lighter business model and increased high-margin avocado production, the analyst tells investors in a research note. Limoneira’s real estate optimization and monetization should also drive increased asset values and provide cash flow via rents or direct sales, not only for residential and commercial opportunities, but for water rights and other agricultural-based assets, the firm added.