Freshii (FRII) Stock Price Down 33.2% on Analyst Downgrade

Freshii Inc (TSE:FRII) shares dropped 33.2% on Thursday after CIBC downgraded the stock from a neutral rating to an underperform rating. CIBC now has a C$2.75 price target on the stock, down from their previous price target of C$5.25. Freshii traded as low as C$1.95 and last traded at C$2.66. Approximately 640,281 shares changed hands during trading, an increase of 1,137% from the average daily volume of 51,779 shares. The stock had previously closed at C$3.98.

FRII has been the subject of a number of other reports. Canaccord Genuity dropped their price objective on shares of Freshii from C$10.00 to C$9.50 in a research note on Monday, August 13th. Royal Bank of Canada decreased their target price on shares of Freshii from C$7.00 to C$3.00 and set an “underperform” rating on the stock in a research report on Thursday.

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Freshii Company Profile (TSE:FRII)

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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