Ingredion (INGR) PT Raised to $155 at Credit Suisse
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get inside Wall Street with StreetInsider Premium. Claim your 2-week 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)."
Shares of Ingredion closed at $128.97 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UBS Cuts Price Target on Restoration Hardware (RH) to $34 Following 3Q
- BMO Capital Raises Price Target on Dollar Tree (DLTR) to $96; Reiterates Market Perform
- Allergen (AGN) PT, Estimates Trimmed at Credit Suisse
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesCredit Suisse
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!