CIBC lowered shares of Freshii (TSE:FRII) from a neutral rating to an underperform rating in a research note issued to investors on Friday morning. They currently have C$2.75 price objective on the stock, down from their previous price objective of C$5.25.
A number of other brokerages have also recently issued reports on FRII. Royal Bank of Canada decreased their target price on Freshii from C$8.00 to C$7.00 and set a sector perform rating for the company in a report on Monday, August 13th. Canaccord Genuity decreased their target price on Freshii from C$10.00 to C$9.50 in a report on Monday, August 13th.
Shares of TSE:FRII traded down C$0.07 during trading on Friday, reaching C$2.58. 454,800 shares of the stock were exchanged, compared to its average volume of 59,573. Freshii has a 12-month low of C$1.95 and a 12-month high of C$8.00.
Freshii Inc develops, franchises, and operates quick-serve restaurants in Canada, the United States, and internationally. Its restaurants offer salads, bowls, burritos, wraps, soups, juices, smoothies, and frozen yogurt. As of December 31, 2017, the company operated 367 stores operated by franchise partners in 16 countries, as well as 3 company-owned stores located in Canada.
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