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Amira Nature Foods Downgraded at Jefferies, PT Cut to $15; Shares Slide 2%

Amira Nature Foods Downgraded at Jefferies, PT Cut to $15; Shares Slide 2%

Analysts at Jefferies downgraded their coverage of specialty foods distributor Amira Nature Foods (ANFI) to hold from a buy rating and cut their price target on the stock by $10 to $15 per share. Jefferies analyst Kevin Grundy said he expects the stock to remain range-bound in the near term. After falling to an intraday low of $12.23, shares recouped and recently traded at $12.76, down 2.3% relative to Thursday's close. The stock has a 52-week trading range of $7.42 - $25.

Amira Nature Foods Downgraded at Jefferies, PT Cut to $15; Shares Slide 2%