Gabelli Upgrades Hansen Natural (HANS) to Buy
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Gabelli upgrades Hansen Natural Corporation (Nasdaq: HANS) to Buy, saying the current valuation is compelling considering the company's leadership position. The firm is placing a PMV (private market value) of $45 on Hansen.
Gabelli highlights the fact that Hansen is debt-free and cash flow positive with minimal capital expenditures required. They also expect the company to keep buying back its own shares.
Gabelli said a potential strategic acquirer would be willing to pay in excess of their 10x EBITDA multiple assumption, and probably closer to 12x.
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