The Globe and Mail reports in its Friday, June 21, edition that Acumen Capital analyst Nick Corcoran has reaffirmed his "buy" recommendation for Andrew Peller. The Globe's David Leeder writes in the Eye On Equities column that Mr. Corcoran lowered his share target by a loonie to $10. Mr. Corcoran says the winemaker's business "continues to progress to historical levels of performance: targeted sales growth of 2 to 3 per cent, gross margins of 41 to 43 per cent, SG&A of 25 to 27 per cent and EBIDTA margins of 15 to 16 per cent." On Tuesday Andrew Peller reported sales of $85-million for the quarter, up 9.4 per cent year-over-year and in line with the analyst's expectation. Adjusted earnings before interest, taxes, depreciation and amortization of $9.3-million was up from a loss of $1.2-million a year ago and above Mr. Corcoran's $8-million projection. Mr. Corcoran says in a note: "Andrew Peller is trading at a discount to the alcoholic beverages peer group on both EV/EBITDA and P/E. Despite inflationary pressures in the short- to mid-term, we continue to believe that Andrew Peller's scalable business model, brand recognition and significant barriers to entry will allow it to trade closer to the peer group."