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Takeaway: We are removing BNNY from Hedgeye's high-conviction stock idea list.

As we head into 2013 year-end, we are taking Annie’s (BNNY) off our Investment Ideas List.

Hedgeye analyst Matt Hedrick says that, "we believe with the stock market at all-time highs, expectations for this growth stock to outperform the market are too lofty. We’d like to be buyers of this organic foods growth company closer to the $35-40 range on a pullback."

Our long-term bullish thesis on Annie's remains intact.

BNNY: Removing Annie's From Investing Ideas - anni