UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Amira Nature Foods Ltd. Following Strong Quarter Report

In a report published Tuesday, Jefferies analyst Thilo Wrede reiterated a Buy rating on

, and raised the price target from $13.00 to $14.00. In the report, Jefferies noted, “ANFI delivered another quarter of strong top and bottom line growth with the outlook for more to come. Despite a weakening Indian Rupee, which impacts about 40% of ANFI's rev., the co. maintained its FY14 guidance as the FX impact was offset by a stronger underlying performance. The co. continues to expect to lower the interest rate on its debt by roughly 400bps towards the end of CY13 which would have a roughly $0.15 positive EPS impact.” Amira Nature Foods Ltd. closed on Monday at $7.99.