Jarden slashes My Food Bag target price by 44%

My Food Bag co-founder Nadia Lim. (Image: Supplied)

Thu, 02 Nov 2023

Jarden has slashed its target price for the New Zealand stock exchange-listed My Food Bag but has retained its buy rating despite a challenging environment.It’s revised its target price by 44% to 25c a share, down from 45c.Year-to-date, the meal-kit company’s share price is down around 66% to 14c.Analysts Guy Hooper and Nick Yeo said the operating environment for meal kits remains tough, with My Food Bag (MFB) needing to deliver on cost rationalisation.With a negative revenue backdrop, they believe MFB’s ability to control cos...

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