Market Overview

UPDATE: KeyBanc Downgrades Bob Evans Farms to Hold, Removes PT

Related BOBE
Stocks to Watch for October 15, 2014
Bob Evans Announces Changes to Its Board Structure and Committee Assignments

In a report published Friday, KeyBanc downgraded its rating on Bob Evans Farms (NASDAQ: BOBE) from Buy to Hold, and removed its $50.00 price target.

KeyBanc noted, “Downgrading Bob Evans Farms, Inc. (BOBE-NASDAQ) to HOLD from BUY. We continue to view BOBE's plan to reinvigorate Bob Evans Restaurants (BER) and grow BEF Foods division positively, but have less confidence that near-term performance will exceed investors' expectations. Our BUY thesis was the selling of Mimi's and continued growth of BEF Foods that would lead to upside to the FY14 EPS consensus estimate ($2.94 on January 3, 2013, but currently $2.77); however, the uncertainty of BEF Foods margin outlook causes us to recommend a HOLD, rather than buying at the current price.”

Bob Evans Farms closed on Thursday at $44.27.

Latest Ratings for BOBE

DateFirmActionFromTo
Sep 2014CL KingUpgradesSellNeutral
Aug 2014Stephens & Co.DowngradesEqual-weightUnderweight
Apr 2014CL KingDowngradesNeutralSell

View More Analyst Ratings for BOBE
View the Latest Analyst Ratings

Posted-In: KeyBancAnalyst Color Downgrades Analyst Ratings

 

Related Articles (BOBE)

Around the Web, We're Loving...

Get Benzinga's Newsletters