Goldman Sachs Upgrades Dean Foods (DF) to Buy, Sees 33% Upside

November 19, 2012 6:47 AM EST Send to a Friend
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Price: $16.35 --0%

Rating Summary:
    6 Buy, 8 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 5 | New: 0
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Goldman Sachs upgraded Dean Foods (NYSE: DF) from Neutral to Buy with a price target of $22.00 (from $20.00), suggesting 33% upside.

The firm views Dean Foods as a compelling sum-of-the-parts story as: "(1) we expect a full spin-off of WhiteWave (WWAV – please see our separate initiation report today) around mid-year 2013 and DF currently owns 87% of WWAV; (2) we see potential for further upside to value if management is able to consummate its intended sale of Morningstar; and (3) we expect DF’s remaining Fresh Dairy Direct (FDD) business to re-rate higher on stabilization of raw milk prices, improved balance sheet and healthy cash generation profile."

For an analyst ratings summary and ratings history on Dean Foods click here. For more ratings news on Dean Foods click here.

Shares of Dean Foods closed at $16.60 yesterday.




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