Market Overview

Janney Slashes Price Target on Dole Foods to $13 Following Co.'s Warning on Fresh Fruit

Related DOLE
Discontinued Operations
Top 4 Small-Cap Stocks In The Food-Major Diversified Industry With The Highest Cash

Janney Capital's Jonathan Feeney reduced his price target on shares of Dole Foods (NYSE: DOLE) from $18 to $13 Wednesday following a warning from the company related to its Fresh Fruit business.

Dole Foods are down more than 13 percent amid the concerning outlook.

Feeney said his new fair value estimate on Dole Foods shares was based on a lowered 2013 free cash flow estimate from $1.59 per share to $1.06 per share. The analyst reduced his 2013 adjusted-EBITDA estimate from $206 million to $151 million.

Janney maintains a Buy rating on shares of Dole Food.

Latest Ratings for DOLE

DateFirmActionFromTo
Jan 2013Bank of AmericaDowngradesBuyUnderperform
Jan 2013Goldman SachsMaintainsNeutral
Jan 2013Janney CapitalMaintainsBuy

View More Analyst Ratings for DOLE
View the Latest Analyst Ratings

Posted-In: Analyst Color Price Target Analyst Ratings

 

Related Articles (DOLE)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters