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

November 3, 2016 7:50 AM EDT
Get Alerts INGR Hot Sheet
Price: $118.56 +0.95%

Rating Summary:
    6 Buy, 5 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
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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.



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