Ingredion (INGR) PT Raised to $155 at Credit Suisse

November 3, 2016 7:50 AM EDT
Get Alerts INGR Hot Sheet
Price: $126.52 +0.54%

Rating Summary:
    6 Buy, 5 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
Trade INGR Now!
Join SI Premium – FREE

Find out which companies are about to raise their dividend well before the news hits the Street with's Dividend Insider Elite. Sign-up for a FREE trial here.

Credit Suisse analyst Robert Moskow reiterated an Outperform rating and raised his price target on Ingredion (NYSE: INGR) to $155.00 (from $150.00) following beat and raise.

Moskow commented, "The muted response in Ingredion’s stock price to its 3Q beat-and-raise indicates a high degree of skepticism in the market that the company can deliver its algorithm of double-digit EPS growth in 2017 on top of outstanding 20% growth in 2016. In our view, the market underestimates the degree to which the factors that fueled this year's strong performance will continue into next year. As a result, we are raising our 2016 and 2017 EPS estimates above consensus to $7.10 and $7.81 respectively (from $6.84 and $7.50) and raising our target price to $155/share (from $150)."

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

Shares of Ingredion closed at $128.97 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Credit Suisse

Add Your Comment