Bank of America Reiterates Buy The WhiteWave Foods Co. on 1Q13 Preview
In a report published Friday, Bank of America analyst Ryan Oksenhendler reiterated a Buy rating and $18.00 price target on The WhiteWave Foods Co. (NYSE: WWAV).
In the report, Oksenhendler noted, “Our $0.15 estimate is in line with consensus and at the midpoint of the company's $0.14-$0.16 guidance. We are raising our sales forecast from 7% to 10% due to strong growth in the US, consistent with recent Nielsen data (see charts on page 3) that showed strong sales across the different businesses. While the better top line could drive upside to EPS, we remain cautious due to the acceleration of spending on distribution and warehousing costs, which could weigh on margins. The stock has been very volatile over the last few months due to the lack of liquidity, in our view, and will likely continue to be volatile until the spin off from Dean Foods in late May.”
The WhiteWave Foods Co. closed on Thursday at $16.01.
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