UPDATE: Jefferies & Company Initiates Coverage on Amira Nature Foods with Buy Rating, $11 PT

In a report published Monday, Jefferies & Company initiated coverage on Amira Nature Foods Ltd.

with a Buy rating and $11.00 price target. Jefferies noted, “We are initiating coverage of basmati rice company Amira with a Buy rating and $11 PT. We see ANFI as an appealing opportunity to invest in a fast growing int'l packaged food co. that has ambitious growth goals. The co. should benefit from the exploitation of geographic white space opportunities, the trend to more ethnic eating in developed markets and uptrading in emerging markets. JEF was lead-manager in ANFI's IPO last month.” Amira Nature Foods Ltd. closed on Friday at $8.45.