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UPDATE: Miller Tabak Upgrades Brasil Foods On Improved Export Landscape

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In a report published Wednesday, Miller Tabak analyst Tim Tiberio upgraded the rating on Brasil Foods (NYSE: BRFS) from Hold to Buy, and raised the price target from $26.00 to $28.00.

In the report, Miller Tabak noted, “Upgrade to Buy from Hold, as we see valuation upside coinciding with an unexpected market opportunity presented by growing import bans on US poultry. More importantly, global trade dynamics should provide Brasil Foods with a much-needed pressure valve in 2015, as domestic economic growth remain middling and domestic poultry production is poised to expand as lower feed costs flow through to breeders. Looking beyond N-T commodity-economic trends, we see a greatly improved balance sheet enabling the company to re-ignite top-line processed food revenue growth in 2016 vis-à-vis M&A.”

Brasil Foods closed on Tuesday at $23.05.

Latest Ratings for BRFS

DateFirmActionFromTo
Sep 2019DowngradesBuyHold
Jun 2019UpgradesNeutralOverweight
Jul 2018UpgradesEqual-WeightOverweight

View More Analyst Ratings for BRFS
View the Latest Analyst Ratings

Posted-In: Miller Tabak Tim TiberioAnalyst Color Upgrades Analyst Ratings

 

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Latest Ratings

StockFirmActionPT
CYCowen & Co.Downgrades
CNPCredit SuisseDowngrades28.0
CNPGuggenheim SecuritiesDowngrades29.0
BRKRStifel NicolausInitiates Coverage On53.0
AWKJP MorganInitiates Coverage On127.0
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