Filed under: Analyst reports, Analyst upgrades and downgrades, Krispy Kreme Doughnuts (KKD)

If you had a target of $11 on Krispy Kreme (NASDAQ: KKD) when the stock was at $6.33 and then the company reported a horrible quarter and the stock tanked more than 38%, what would you?

If you’re CIBC, you would issue an “oops”, but still manage to maintain an authoritative tone. CIBC “removed” their price target of $11. Not lowered, just removed. Poof. Gone!

The analyst pointed out, quite correctly, that many of the cures management talked about in the earnings release and on the conference call have already been tried or are currently in place. The company is also facing a liquidity crunch, and declining revenues are doing little to help that.

Continue reading CIBC World Markets downgrades Krispy Kreme (KKD)

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This entry was posted on Monday, September 10th, 2007 at 6:25 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.