UPDATE: Oppenheimer Initiates Coverage on EveryWare Global with Outperform Rating, $14 PT on Good Market Position

In a report published Tuesday, Oppenheimer analyst Joseph Altobello initiated coverage on EveryWare Global EVRY with an Outperform rating and $14.00 price target. In the report, Oppenheimer noted, “We are initiating coverage on EveryWare Global (EVRY) with an Outperform rating and $14 DCF-derived target price. Importantly, we believe EVRY's broad presence in the tabletop/food preparation industry across multiple categories/channels/price points, its recurring revenue model and strong customer relationships make it well positioned to pursue a number of meaningful growth opportunities, including geographic and channel expansion, augmented by M&A.” EveryWare Global closed on Monday at $9.70.