Janney Says Dole Deal Will Be Finalized Near $12/Share, Highlights Increased Attractiveness of Chiquita, Fresh Del Monte Following Bid

Shares of Dole Foods

are up more than 21 percent Tuesday morning following earlier news of a $12/share cash bid from CEO David Murdock. While the move in the stock shows traders are clearly bullish on the news, let's see what sell-side analysts are saying... Janney Capital's Jonathan Feeny called the bid "attractive" and said the deal will be finalized right at $12 per share. Feeny also pointed to some peer plays in the sector, suggesting Chiquita

and Fresh Del Monte

now look even more attractive given the deal for Dole looks like it will be done at just 10.1x the company's EV/EBITDA multiple. Janney retained its Buy rating and $12 price target on Dole.