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.
