UPDATE: Goldman Sachs Upgrades Dean Foods to Buy on Spin-Offs
Goldman Sachs raised its rating on Dean Foods (NYSE: DF) from Neutral to Buy and increased its price target from $20 to $22.
Goldman Sachs commented, "We view DF as a compelling sum-of-the-parts story as: (1) we expect a full spin-off of WhiteWave around mid-year 2013 and DF currently owns 87% of WWAV; (2) we see potential for further upside to value if management is able to consummate its intended sale of Morningstar; and (3) we expect DF's remaining Fresh Dairy Direct (FDD) business to re-rate higher on stabilization of raw milk prices, improved balance sheet and healthy cash generation profile."
Dean Foods closed at $16.60 on Friday.
Latest Ratings for DF
|Jan 2016||Stephens & Co.||Upgrades||Equal-weight||Overweight|
|Dec 2015||Jefferies||Initiates Coverage on||Buy|
|Dec 2015||DA Davidson||Initiates Coverage on||Neutral|
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