Credit Suisse Starts AdvancePierre Foods (APFH) at Outperform
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Credit Suisse initiates coverage on AdvancePierre Foods (NYSE: APFH) with a Outperform rating and a price target of $29.00.
Analyst Robert Moskow commented, "We view APFH as a competitively advantaged company in an attractive category with several avenues for expansion."
The analyst anticipates core volume growth of 5.5% in 2016 and 2-3% in the long term, driven by strong consumer demand for convenient protein meals, the introduction of new products in the retail and convenience store channels, and market share gains over small competitors.
Shares of AdvancePierre Foods closed at $24.95 yesterday.
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