BMO Capital Cuts Price Target on Cott Corp. (COT) to $18 as Shares Trade Down

October 17, 2016 8:58 AM EDT
Get Alerts COT Hot Sheet
Price: $10.85 --0%

Rating Summary:
    5 Buy, 8 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 8 | New: 1
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BMO Capital maintained a Market Perform rating on Cott Corporation (NYSE: COT), and cut the price target to $18.00 (from $20.00), as the stock trades down. BMO sees the 21% decline in stock price since August as overdone; yet, remains on the sidelines due to a lack of visibility into DSS business.

Analyst Amit Sharm commented, "In response to the double-digit decline in COT stock in the last four weeks, we took a fresh look at our operating assumptions for COT's HOD water/coffee and legacy businesses. While we are modestly lowering our 2016 EBITDA estimate, our cash flow assumptions for 2016/17 remain largely unchanged. While we believe that the selling is overdone, we remain on the sidelines given a lack of visibility in the HOD business, modest organic growth opportunities, and reduced likelihood of materially accretive M&A in the foreseeable future."

For an analyst ratings summary and ratings history on Cott Corporation click here. For more ratings news on Cott Corporation click here.

Shares of Cott Corporation closed at $13.48 yesterday.

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