UPDATE: Credit Suisse Reiterates On Caesarstone Sdot-Yam Ltd. Following Another Increase In Guidance

In a report published Thursday, Credit Suisse analyst Michael Dahl reiterated an Outperform rating on

, and raised the price target from $59.00 to $65.00. In the report, Credit Suisse noted, “We are raising our '14 EPS est. to $2.32 (from $2.23), which is driven by the 3Q beat as we temper our 4Q expectations to reflect what we view as potentially conservative guidance. Our FY'14 adj. EBITDA est. moves up to $118 mln from $116 mln, in-line with the high end of guidance. Additionally, we are increasing our '15 and '16 ests., which is driven by an incrementally positive view on the revenue potential for the existing footprint and some further margin expansion. As a result, we raise our '15 EPS est. to $2.77 (from $2.65) and '16 to $3.45 (from $3.30), and our adj. EBITDA ests. to $138 mln for '15 (from $133 mln) and $170 mln for '16 (from $165 mln). Finally, we raise our target price to $65 from $59.” Caesarstone Sdot-Yam Ltd. closed on Wednesday at $59.05.