UPDATE: Deutsche Bank Initiates Amira Nature Foods at Buy on Growth Outlook

Deutsche Bank initiated coverage on Amira Nature Foods

with a Buy rating and a $13 price target. Deutsche Bank commented, "As a rapidly growing company focused on its brand and the global basmati rice market, we expect strong volume, EBIT and EPS performance. We see the stock's (post IPO) valuation as too low vs. typical packaged food as well as small cap, fast growing CPG companies. … The company's LT goals incl: sales growth 20%+, $150 mil+ EBITDA, EPS growth 30%+. While our LT expectations are more modest, we establish F2013 (end Mar), F2014, F2015 EPS of $0.65, $0.88 and $1.10, respectively. We look to continued volume, gross profit and EBIT dollar growth as success measures." Amira Nature Foods closed at $8.11 on Friday.