Reeds Receives a Buy from Maxim Group

By Jason Carr

In a report released today, Anthony Vendetti from Maxim Group reiterated a Buy rating on Reeds (NYSE MKT: REED), with a price target of $5.50. The company’s shares closed yesterday at $3.10.

Vendetti said:

“1Q17 total revenues of $8.3M, down 17% y/y, inline with preliminary revenue of $8.3M announced on April 24, 2017, was inline with our current estimate of $8.3M but below our prior estimate of $11.4M.”

According to TipRanks.com, Vendetti is a 5-star analyst with an average return of 14.8% and a 64.3% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Xtant Medical Holdings, Quest Diagnostics Inc, and Milestone Scientific.

Reeds has an analyst consensus of Moderate Buy, with a price target consensus of $5.50.

The company has a one year high of $4.75 and a one year low of $2.25. Currently, Reeds has an average volume of 48.85K.

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Reed’s, Inc. engages in the development, marketing, and sale of natural non-alcoholic carbonated sodas and natural foods. Its product lines include Reed’s Ginger Brews, Virgil’s Root Beer, Cream Sodas, Dr. Better and Real Cola, Culture Club Kombucha, China Colas, Reed’s Ginger candy and ice creams, and Sonoma Sparkler and other juice based products. The company was founded by Christopher J. Reed in June 1987 and is headquartered in Los Angeles, CA.