Stifel Cuts Price Target on Post Holdings (POST) to $85; Reiterates Buy
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Stifel maintained a Buy rating on Post Holdings (NYSE: POST), and cut the price target to $85.00 (from $95.00), following the company's 4Q earnings report. Post provided its initial EBITDA guidance range for FY17 calling for EBITDA of $910 million to $950 million representing a 2.5% decline to 1.5% growth.
Analyst Christopher Growe commented, "Post reported a strong 4Q16 EPS result including EPS of $0.61, up significantly from the prior year, and EBITDA of $220 million, above our estimate, the consensus estimate, and the company’s own guidance. FY17 EBITDA guidance of $910-$950 million was generally in line with our estimate and investor expectations, yet the stock price reacted negatively which we find surprising. We continue with our Buy rating and are lowering our target price to $85 to reflect lower multiples broadly across the food industry. We foresee strong upside potential for the shares from this level."
Shares of Post Holdings closed at $72.34 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
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