BWS Financial Upgrades Imperial Sugar Co.. (IPSU) to Hold
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BWS Financial upgrades Imperial Sugar Co. (NASDAQ: IPSU) from Sell to Hold with a $15 price target.
The firm said, "Looking forward to fiscal 2009 we see a blurry picture to carry a sell rating and are upgrading IPSU to a Hold. We would recommend moving to the sidelines and waiting to see the development of the insurance situation and rebuilding process of Port Wentworth. The outlook for fiscal 2010 is dependent on farmers opting to grow beets over other commodities. An increase in beet crop would prevent sugar prices from appreciating like they have these last few months. The price of refined sugar will make or break fiscal 2010 for IPSU."
Imperial Sugar Company processes and markets refined sugar in the United States.
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