Piper Jaffray Downgrades The WhiteWave Foods Company (WWAV) to Neutral Amid Pending Takeover
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Piper Jaffray downgraded The WhiteWave Foods Company (NYSE: WWAV) from Overweight to Neutral with a price target of $56.25 amid pending takeover and following Q2 results.
"Overall, we think this is a fair offer for WhiteWave shareholders given the premium to the overall consumer packaged food group, which we think was warranted given the strong organic growth profile for the business," analyst Sean Naughton said.
Shares of The WhiteWave Foods Company closed at $55.56 yesterday.
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