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UPDATE: Stifel Downgrades Pinnacle Foods On News Of Hillshire Brands Purchase

Why Does BMO Think Pinnacle Foods Will Outperform The Market?
Pinnacle Foods Extends Tender Offer To Acquire Boulder Brands Until January 15

In a report published Tuesday, Stifel analyst Christopher Growe downgraded the rating on Pinnacle Foods (NYSE: PF) from Buy to Hold, and removed the $31.00 price target.

In the report, Stifel noted, “Hillshire Brands (HSH-$35.76-Not Rated) has agreed to purchase Pinnacle Foods for $18 in cash and 0.5 shares of HSH per share of Pinnacle ($35.88 based on Monday's closing prices). With the Pinnacle share price pushing up to within 4% or so of the takeover value, we are moving to a Hold rating from Buy. We do not foresee a competitive bid emerging for Pinnacle and given the stock component of the proposed transaction, we think the risk profile has increased.”

Pinnacle Foods closed on Monday at $34.47.

Latest Ratings for PF

Jan 2016BMO CapitalUpgradesOutperform
Jan 2016Deutsche BankMaintainsHold
Dec 2015DA DavidsonInitiates Coverage onNeutral

View More Analyst Ratings for PF
View the Latest Analyst Ratings

Posted-In: Christopher Growe StifelAnalyst Color Downgrades Analyst Ratings


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