KeyBanc Upgrades Bob Evans Farms (BOBE) to Buy, Sees Several Value-Creating Initiatives

December 5, 2012 7:22 AM EST
Get Alerts BOBE Hot Sheet
Price: $48.49 --0%

Rating Summary:
    3 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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KeyBanc upgraded Bob Evans Farms (NASDAQ: BOBE) from Hold to Buy with a price target of $45.00.

The firm comments, "We believe the Company is on the cusp of implementing several value-creating initiatives that should result in better- than-expected earnings and cash flows, and cause shares to be re-rated during the next 12 months. These initiatives include: 1) the sale of Mimi's Cafe; 2) the realization of growth in the higher-margin food packaging business; and 3) the ability to build SRS from the Bob Evans remodel program."

For an analyst ratings summary and ratings history on Bob Evans Farms click here. For more ratings news on Bob Evans Farms click here.

Shares of Bob Evans Farms closed at $37.19 yesterday.

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