UPDATE: Oppenheimer Initiates Bob Evans Farms at Outperform on Attractive Investment Opportunity
In a report published on Wednesday, Oppenheimer analyst Brian Bittner initiated coverage on Bob Evans Farms (NASDAQ: BOBE) with a rating of Outperform and a price target of $57.
In the report, Oppenheimer noted, "Underfollowed by the Street, we believe BOBE represents an attractive investment opportunity. As both businesses (restaurants & grocery) butterfly out of "transformational" initiatives, we expect the asset base to improve, margin structure to elevate and an attractive earnings upside case to emerge."
Bob Evans Farms closed on Tuesday at $47.17.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.