Landec downgraded to "neutral"

04/29/09 - B. Riley & Co.

NEW YORK, April 29 (newratings.com) - Analysts at B Riley & Co downgrade Landec Corporation (LNDC) from "buy" to "neutral." The target price is set to $6.50.

In a research note published this morning, the analysts mention that the company’s share price has appreciated by nearly 75% since early March. Landec’s performance is expected to remain depressed in the forthcoming quarters due to continued pressure on gross margins, the analysts add. The company’s strength lies in its strong balance sheet and continued ability to generate profits and cash flows even in this downturn, B Riley says.