BB&T Raises First Quarter Estimates on Snyder's-Lance After Analyst Day

Snyder's-Lance

, a manufacturer and marketer of snack foods such as held its first analyst day as a combined company Friday. Below are some highlights as covered by Heather Jones of BB&T Capital Markets: In regard to the main takeaway from the event, BB&T reported, “We continue to believe that LNCE should generate above-average sales and earnings growth over the next several years and that it is also an attractive acquisition candidate. We have retained our Hold rating, however, as we view the valuation as full, excepting a takeout scenario.” The report went on to highlight a modest estimate increase for the first-quarter EPS from $0.20 per share to $0.22 per share, which is still below the street's estimate. Later on, the report noted that strategic acquisitions seemed to be key for company growth, despite being mostly left out of the presentation. Over all, while BB&T has raised its first-quarter estimate, it has reiterated its Hold rating. Shares of Snyder's-Lance traded up 0.53 percent to $24.89 towards the end of trading Friday.