UPDATE: Bank of America Initiates WhiteWave Foods at Buy on Growth Outlook
Bank of America initiated coverage on WhiteWave Foods (NYSE: WWAV) with a Buy rating and an $18 price objective.
Bank of America commented, "We believe WWAV represents one of the best growth stories across our packaged food and beverage universe supported by leading brands that participate in several on-trend health and wellness product categories. WWAV produces Horizon Organic milk, Silk plant based beverages and creamers under the International Delights and Land O Lakes brands. We expect sales to grow at a high-single-digit level, operating profit to grow at a low-double-digit rate, and EPS to grow at a mid-teen level over the next several years, well above its peers."
WhiteWave Foods closed at $15.64 on Tuesday.
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