Freshii (FRII) Shares Down 33.2% After Analyst Downgrade

Freshii Inc (TSE:FRII) shares traded down 33.2% during mid-day trading 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. 640,281 shares traded hands during mid-day trading, an increase of 1,137% from the average session volume of 51,779 shares. The stock had previously closed at C$3.98.

A number of other research analysts have also recently issued reports on FRII. Royal Bank of Canada decreased their price objective on shares of Freshii from C$7.00 to C$3.00 and set an “underperform” rating on the stock in a research note on Thursday. Canaccord Genuity decreased their price objective on shares of Freshii from C$10.00 to C$9.50 in a research note on Monday, August 13th.

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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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