Business

Diamond Foods stock falls after ratings downgrade

Advertisement

Diamond hit its lowest price since 2006 after a ratings cut. Diamond restated two years’ worth of financial results on Wednesday, wiping $56.5 million in profit from its books. Jefferies, the investment bank, downgraded the snacks maker to “underperform” and slashed its price target to $10 from $27. The firm added that it anticipates Diamond’s results will get worse before they improve.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com