Jefferies Downgrades Chiquita (CQB) to Hold
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Price: $10.83 -1.99%
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade CQB Now!
Jefferies downgraded Chiquita (NYSE: CQB) from Buy to Hold with a price target of $7.50, down from $12.
The firm comments, "Despite management’s best efforts to rationalize and grow the business, competitive forces plus a very challenging macro environment in Europe are leading to continued earnings pressure. With no near-term relief visible, and arguably the situation in Europe deteriorating, we are moving to the sidelines and downgrading CQB to Hold from Buy."
FY12 EPS was cut from $0.95 to $0.04 and FY13 from $1.26 to $0.67.
For an analyst ratings summary and ratings history on Chiquita click here. For more ratings news on Chiquita click here.
Shares of Chiquita closed at $8.02 yesterday, with a 52 week range of $7.53-$15.47.
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The firm comments, "Despite management’s best efforts to rationalize and grow the business, competitive forces plus a very challenging macro environment in Europe are leading to continued earnings pressure. With no near-term relief visible, and arguably the situation in Europe deteriorating, we are moving to the sidelines and downgrading CQB to Hold from Buy."
FY12 EPS was cut from $0.95 to $0.04 and FY13 from $1.26 to $0.67.
For an analyst ratings summary and ratings history on Chiquita click here. For more ratings news on Chiquita click here.
Shares of Chiquita closed at $8.02 yesterday, with a 52 week range of $7.53-$15.47.
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