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Jefferies is out with its report today on Corn Products International
CPO, maintaining Buy.
In its report, Jefferies writes, "We expect 2011 EPS guidance to be reiterated with 3Q release and although
recent currency headwinds (Brazil, Mexico, South Korea) could prevent double-digit percentage EPS growth in 2012 - CPO shares, at 5.6X EBITDA, are attractive given: 1) still strong sweetener demand, 2) ongoing National Starch
synergies, 3) easing volume comparisons & 4) recently announced share repurchase."
Jefferies maintains a $55 PT on CPO.
At the time of posting, shares of CPO were trading at $45.46, up 0.31% from Friday's close.
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