Goldman Sachs Downgrades Hillshire Brands (HSH) to Neutral; Valuation Looking Full; 2013 To Be Transition Year
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Price: $35.41 -0.2%
Rating Summary:
3 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
3 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade HSH Now!
Goldman Sachs downgraded Hillshire Brands (NYSE: HSH) from Buy to Neutral with a price target of $32.00.
Analyst, Jason English, said, "We believe downside to HSH is limited given that (1) management already deflated near-term expectations at its analyst day in June, and (2) the firm is considered by many to be a potential acquisition target. However, we see limited upside from this level absent an M&A event; and with no other pillars beyond M&A to rest a buy thesis on, we choose to step to the sidelines. FY13 looks poised to be a transition year for the firm as management seeks to recapture lost gross margin, stabilize demand for its core business and begin to stretch its brands into new categories."
For an analyst ratings summary and ratings history on Hillshire Brands click here. For more ratings news on Hillshire Brands click here.
Shares of Hillshire Brands closed at $29.56 yesterday, with a 52 week range of $27.56-$30.43.
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Analyst, Jason English, said, "We believe downside to HSH is limited given that (1) management already deflated near-term expectations at its analyst day in June, and (2) the firm is considered by many to be a potential acquisition target. However, we see limited upside from this level absent an M&A event; and with no other pillars beyond M&A to rest a buy thesis on, we choose to step to the sidelines. FY13 looks poised to be a transition year for the firm as management seeks to recapture lost gross margin, stabilize demand for its core business and begin to stretch its brands into new categories."
For an analyst ratings summary and ratings history on Hillshire Brands click here. For more ratings news on Hillshire Brands click here.
Shares of Hillshire Brands closed at $29.56 yesterday, with a 52 week range of $27.56-$30.43.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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