Davenport Upgrades Alliance One International, Inc. (AOI) to Buy

Davenport upgrades Alliance One International, Inc. (NYSE: AOI) from Neutral to Buy with a $10 price target.

The firm said, "First, we now believe that the uncertainty regarding Japan Tobacco’s leaf procurement is better reflected in the stock price. Second, we continue to wait for news regarding JT’s leaf procurement ability in Brazil as well as its processing capacity in the U.S. Ultimately, we expect any change to take several years to work through. The worldwide tobacco leaf market remains well balanced and there is not a replaceable supply of tobacco leaf available. The risks include whether JT makes additional announcements regarding further long-term leaf procurement arrangements or builds additional leaf processing capacity in the U.S."

Real-Time Market Moving News Two-Weeks FREE http://www.streetinsider.com/premium_content.php

You May Also Be Interested In

• Africa Oil Corp.: Ngamia-1 Well Update
• Africa Oil Corp.: Ngamia-1 Well Update
• UBS Maintains a 'Buy' on Teva Pharma (TEVA); CEO Highlights From Conference Call

Create E-mail Alert Related Categories

Upgrades

Related Entities

Davenport

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?

Follow StreetInsider.com On Twitter