UPDATE: Oppenheimer Initiates Coverage on Bob Evans Farms on Attractive Investment Opportunity

In a report published on Tuesday, Oppenheimer analyst Brian Bittner initiated coverage on Bob Evans Farms BOBE with a rating of Outperform and a price target of $57. In the report, Oppenheimer noted, "Underfollowed by the Street, we believe BOBE represents an attractive investment opportunity. As both businesses (restaurants & grocery) butterfly out of "transformational" initiatives, we expect the asset base to improve, margin structure to elevate and an attractive earnings upside case to emerge." Bob Evans Farms closed on Tuesday at $47.17.