Jefferies Maintains Buy on Corn Products International

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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.
Posted In: Analyst ColorReiterationAnalyst RatingsJefferies
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