Jefferies Starts Amira Nature Foods Ltd. (ANFI) at Buy

Jefferies initiates coverage on Amira Nature Foods Ltd. (NYSE: ANFI) with a Buy rating and a price target of $13.00.

Analyst Akshay Jagdale commented, "ANFI is a basmati/specialty rice company that is poised to benefit from doubling of the Asian middle class & corresponding trade-up to premium basmati rice. A discredited short campaign combined with a temporary oversupply of basmati rice hurt ANFI’s FY16 results. In recent months, export demand has accelerated & basmati prices have stabilized, creating an especially attractive entry point for LT investors. We are initiating coverage with a Buy rating & $13 PT."

For an analyst ratings summary and ratings history on Amira Nature Foods Ltd. click here. For more ratings news on Amira Nature Foods Ltd. click here.

Shares of Amira Nature Foods Ltd. closed at $7.09 yesterday.

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