JPMorgan Lowers Duckhorn Portfolio Price Target to $7 Ahead of Q4 Earnings Release

JPMorgan analysts reduced their price target for The Duckhorn Portfolio (NYSE:NAPA) to $7, down from $9, while maintaining a Neutral rating ahead of the company's Q4/24 earnings report, which is scheduled for October 7. The analysts kept estimates for Q4 unchanged, forecasting sales and EBITDA at $104.3 million and $35.1 million, respectively, roughly in line with Street consensus of $105.0 million and $34.7 million, and within the company’s guidance range.

However, the analysts slightly lowered their fiscal 2025 estimates, reflecting potential price and mix pressure from higher promotions and adjusted Sonoma-Cutrer contributions due to slowing growth trends. The updated 2025 forecast now projects sales of $488.5 million, up 22.0%, and EBITDA of $187.9 million, up 25%, with EPS expected to be $0.58, representing a 13% year-over-year increase.