Deutsche Bank Starts AdvancePierre Foods (APFH) at Buy
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Deutsche Bank initiates coverage on AdvancePierre Foods (NYSE: APFH) with a Buy rating and a price target of $28.
Analyst Mario Contreras said, "We believe solid top line potential, benign input cost environment, conservative financial targets, experienced management team, and M&A potential offset risks incl. limited track record of success, foodservice focus, and relatively high debt leverage (4x). We view current valuation (11x 2016 EBITA) as attractive vs. the broader category."
Shares of AdvancePierre Foods closed at $24.95 yesterday.
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