BWS Financial Maintains a 'Buy' on Imperial Sugar (IPSU); Raises Price Target After Positive Results

August 6, 2009 2:05 PM EDT

BWS Financial maintains a 'Buy' on Imperial Sugar (Nasdaq: IPSU), raises price target from $15 to $20.

BWS analyst says, "Imperial Sugar posted their first gross profit since the explosion at the Port Wentworth, Georgia facility, which restarted bulk sugar production during the quarter. IPSU posted revenue of $142.3 million with gross profit of $0.3 million. The number is immaterial to the loss IPSU reported in the quarter, but a signal of the Company seeing operations pickup immediately once refining operations are started. During the second quarter IPSU reinstituted their granulated and liquid bulk sugar refining operations. The Company had previously begun their specialty sugar crystallization refining production. Port Wentworth represents 60 percent of IPSU’s refining capacity and the return of operations would allow the Company to start taking advantage of the rise in sugar prices...See FY10 EPS: ($0.06)/Revenues: $848.97M."

To see more analyst ratings on IPSU Click Here.

Imperial Sugar Company, together with its subsidiaries, engages in the processing and marketing of refined sugar in the United States. It refines, packages, and distributes granulated white, powdered, liquid, and brown sugars.

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