Estimates Reduced For Dole

Dole Food Company, Inc. DOLE is having estimates reduced due primarily to higher cost assumptions, according to BB&T Capital Markets. BB&T says "EU local banana pricing has improved considerably and is currently tracking above the prior year at a mid- to high-single-digit pace, as importers have worked to improve pricing and supplies of competing seasonal fruits begin to wane. Fresh Vegetables profitability should benefit from recent business wins and efficiency initiatives. Further, recent containerboard price increases have not entirely stuck." BB&T maintains its Buy rating and $13 price target for Dole Food Company, which closed yesterday at $9.25.