Soleil Securities Maintains a 'Buy' on Fresh Del Monte Produce (FDP); Raises Estimates

October 28, 2009 8:21 AM EDT

Securities maintains a 'Buy' on Fresh Del Monte Produce (NYSE: FDP), price target $28.

Soleil analyst says, "We maintain our BUY rating on Fresh Del Monte (FDP-NYSE) and price target of $28 per share. The outlook for calendar 2010 is attractive, reflecting strong forecasted global banana pricing, potentially lower transportation and fruit procurement costs, and attractive valuation, which support our positive investment rating...We are raising our 2009 EPS estimate from $2.40 to $2.45 and maintaining our 2010 projection of $2.75...Banana pricing and fresh fruit demand remains strong on a global basis, and 2010 comparisons should be more favorable for FDP in fruit procurement costs, and key product lines including pineapples and melons."

To see more analyst ratings on FDP Click Here.

Fresh Del Monte Produce Inc. and its subsidiaries produce, transport, source, market, and distribute fresh and fresh-cut fruit and vegetables worldwide

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