UPDATE: UBS Downgrades Cott Corporation (COT) to Neutral

April 19, 2013 7:21 AM EDT
Get Alerts COT Hot Sheet
Price: $10.82 --0%

Rating Summary:
    5 Buy, 8 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 19 | Down: 13 | New: 9
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(Updated - April 19, 2013 8:12 AM EDT)

UBS downgraded Cott Corporation (NYSE: COT) from Buy to Neutral with a price target of $11.

Analyst Kaumil S. Gajrawala said, "Cott shares are up 33% year-to-date and 63% over the last year. We believe management has made the right moves in bringing in costs, streamlining the portfolio and improving service levels with key customers. The strong free-cash-flow generation has appropriately been allocated to cash return and, shortly, debt refinancing. That said, at 15x PE, we believe much of the current and pending operational and financial improvements are incorporated in the company's valuation."

For an analyst ratings summary and ratings history on Cott Corporation click here. For more ratings news on Cott Corporation click here.

Shares of Cott Corporation closed at $10.71 yesterday.

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