JPMorgan Downgrades Dean Foods (DF) to Underweight

JPMorgan analyst Ken Goldman downgraded Dean Foods (NYSE: DF) from Neutral to Underweight with a Street Low price target of $6.00 (from $9.00).

The analyst sees risk building for the company over the ST and LT.

He has linger concerns around the Q3 earnings miss, higher raw milk costs on the horizon, fluid milk demand erosion, risk of further customer attrition, risk to more shelf space erosion to milk alternatives, mix headwinds due to the shift to private label, concerns about the flow-through to the bottom line from cost saving efforts, possible red flags tied to reduced disclosures and corporate governance, cash constraints and the valuation.

For an analyst ratings summary and ratings history on Dean Foods click here. For more ratings news on Dean Foods click here.

Shares of Dean Foods closed at $8.72 yesterday.

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