Market Overview

UPDATE: BMO Capital Markets Initiates Tupperware at Outerform on Emerging Markets Growth Outlook

Related TUP
Morning Market Losers
Earnings Scheduled For July 23, 2014

BMO Capital Markets initiated coverage on Tupperware (NYSE: TUP) with an Outperform rating and a $90.00 price target.

BMO Capital Markets analyst Connie M. Maneaty commented, "With a dividend yield of 3.3%, we think the 12-month return will be about 21%. Tupperware is a direct seller of high-quality house wares and beauty products in more than 100 countries through a sales force of 2.8 million. It is the most attractive mid-cap emerging markets play in our universe. Tupperware's emerging markets sales, 61% of total, are in countries that account for 86% of the world's population. It is ideally positioned for the explosive 75%-80% growth of the global middle class to 3.2 billion from 1.8 billion that the OECD expects by 2020. We peg its long-term EPS growth at 15% based on local currency sales growth of 6%-8% a year."

Tupperware closed at $76.10 on Tuesday.

Posted-In: BMO Capital MarketsAnalyst Color Initiation Analyst Ratings

 

Most Popular

Related Articles (TUP)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters