UPDATE: Stifel Nicolaus Upgrades WhiteWave Foods to Buy on Valuation, Revenue Outlook
Stifel Nicolaus raised its rating on WhiteWave Food (NYSE: WWAV) from Hold to Buy and established a $18 price target.
Stifel Nicolaus noted, "The weakness in the stock price since the IPO in October has been surprising with no fundamental backing, in our view. When comparing WhiteWave to its closest investment peers, we find the shares trading at a 10%-20% discount which we believe is inappropriate based on the growth outlook. … Revenue growth will likely be the key metric by which WhiteWave is judged given its exposure to fast growing categories and its robust new product pipeline and we believe this presents an advantage for WhiteWave."
WhiteWave Foods closed at $15.17 on Friday.
Latest Ratings for WWAV
|Sep 2016||Bernstein||Downgrades||Outperform||Market Perform|
|Aug 2016||Argus Research||Downgrades||Buy||Sell|
|Aug 2016||Wells Fargo||Downgrades||Outperform||Market Perform|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.