UPDATE: Stifel Nicolaus Raises PT on Hansen Natural to $90
Stifel Nicolaus is out with its report today on Hansen Natural (NASDAQ: HANS), raising its PT from $79 to $90.
In its report, Stifel Nicolaus writes, "We continue with our Buy rating and lift our 2011 and 2012 EPS estimates to $3.09 (was $3.01) and $3.71 (was $3.57), respectively. We also increase our 12-month price target to $90, 13.0x estimated 2012 EBITDA. HANS shares are not inexpensive but we believe a premium multiple is warranted given anticipated sales growth and strong business model (e.g., cash flow generation, nominal capital requirements, management). Given recent shareprice performance, we are more aggressive buyers on days of weakness."
At the time of posting, shares of HANS were trading pre-market at $84.35, up 0.06% from Thursday's close.
