UPDATE: KeyBanc Capital Markets Initiates Coverage on Amira Nature Foods with Buy Rating, $12 PT

In a report published Monday, KeyBanc Capital Markets initiated coverage on Amira Nature Foods Ltd.

with a Buy rating and $12.00 price target. KeyBanc Capital noted, “We are initiating coverage of Amira Nature Foods Ltd. (ANFI-NYSE) with a BUY rating and $12 price target. We consider ANFI a growth company with a strong return profile competing in an attractive basmati rice category that has above average growth potential. ANFI's sales and EBIT have grown at a CAGR of roughly 30% and 40%,respectively, over the last five years. Even more impressive is the fact that all of its growth has been organic.” Amira Nature Foods Ltd. closed on Friday at $8.45.