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In a report released today, Anthony Vendetti from Maxim Group maintained a Buy rating on Reed’s Inc (NYSE MKT: REED), with a price target of $4. The company’s shares closed yesterday at $2.60.
Vendetti commented:
“Yesterday, after the market close, REED reported slightly lower 1Q18 revenue and better-than-expected gross margin, primarily due to lower glass costs.”
Vendetti has an average return of 13.6% when recommending Reed’s Inc.
According to TipRanks.com, Vendetti is ranked #584 out of 4800 analysts.
Reed’s Inc has an analyst consensus of Moderate Buy, with a price target consensus of $3.50.
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Based on Reed’s Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $10.92 million. In comparison, last year the company had a GAAP net loss of $1.99 million.
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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, and Flying Culdron Butterscotch Beer. The company was founded by Christopher J. Reed in June 1987 and is headquartered in Los Angeles, CA.
