Jefferies Reiterates a 'Buy' on Penford Corp. (PENX); Raising PT, Trimming Estimates
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Price: $11.70 -0.51%
Rating Summary:
0 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 20 | Down: 36 | New: 12
Rating Summary:
0 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 20 | Down: 36 | New: 12
Trade PENX Now!
Jefferies reiterates a 'Buy' on Penford Corp. (NASDAQ: PENX) price target of $11.00 (from $9.00).
Analyst, Laurence Alexander, said, "We are trimming 2012E $0.05 to $0.15 and 2013E $0.05 to $0.55 to better reflect likely margin pressure on the ethanol business. We expect the shares to be range-bound near-term on margin concerns, with the next leg up hinging on evidence of better pricing, growth in bio-latex, or better ethanol market dynamics."
For an analyst ratings summary and ratings history on Penford Corp. click here. For more ratings news on Penford Corp. click here.
Shares of Penford Corp. closed at $8.98 yesterday, with a 52 week range of $4.78-$9.94.
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Analyst, Laurence Alexander, said, "We are trimming 2012E $0.05 to $0.15 and 2013E $0.05 to $0.55 to better reflect likely margin pressure on the ethanol business. We expect the shares to be range-bound near-term on margin concerns, with the next leg up hinging on evidence of better pricing, growth in bio-latex, or better ethanol market dynamics."
For an analyst ratings summary and ratings history on Penford Corp. click here. For more ratings news on Penford Corp. click here.
Shares of Penford Corp. closed at $8.98 yesterday, with a 52 week range of $4.78-$9.94.
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