Standpoint Downgrades Sara Lee (SLE)
Symbols: SLE
Standpoint Research downgraded shares of Sara Lee Corp. (NYSE: SLE) this morning from a Buy to a Hold. The stock has lost 1.21% during the current trading session, and is exchanging hands for $13.85. Sarah Lee (SLE) hit an 18 month high on Friday and according to Standpoint analyst, Ronnie Moas, is now fairly valued at 14X earnings.
During the time that Standpoint had an open Buy recommendation on the stock, SLE has outperformed the S&P 500 by 2,000 basis points. According to the analyst's note, there continues to be limited downside in this name due to a 3% dividend and a share buyback program. Moas has a 2011 price target of $16-$18 and $18-$20 in 2012.
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