UPDATE: JP Morgan Downgrades Dole Foods to Neutral

JP Morgan lowers its rating on Dole Foods

to Neutral from Overweight as stock nears its price target (reiterated at $12). JP Morgan says, "Given that the stock is approaching our target price, we are moving to the sidelines. While we are reluctant to downgrade on the back of the 4Q11 earnings beat (consensus estimate of -$0.12 vs. actual -$0.02), we believe shares now fairly reflect the risk of Dole's typically unpredictable earnings stream." DOLE closed at $10.99 a share on Monday.