BUZZ-Davidstea Inc: Brokerages lukewarm in initiations

Tue Jun 30, 2015 12:13pm EDT
 
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** Canadian specialty tea retailer's shares down 4.3 pct at $21.46

** Four brokerages initiate coverage with "neutral" or equivalent rating, William Blair starts with "outperform"

** BMO Capital Markets starts with price target of $21, below Monday's close of $22.48, saying that the company was already trading higher than other "early-stage, high-growth companies" and above rivals like Teavana

** Earlier this month, Davidstea reported a loss in its first quarterly report as a public company

** Up to Monday's close, stock had fallen nearly 17 pct since its debut on June 5