UPDATE: Deutsche Bank Starts Dole (DOLE) at Buy

Deutsche Bank analyst Christopher Barnes initiates coverage on Dole (NYSE: DOLE) with a Buy rating and a price target of $19.00.

The analyst comments "Combination of Total Produce and Dole Food Company creates industry leading fresh produce company. We initiate coverage of Dole plc (DOLE) with a Buy rating and $19 price target. The combination of the legacy Total Produce (TP) and legacy Dole Food Company (DFC) establishes the new Dole plc as a market leader in the fresh produce sector, generating twice as much revenue as its nearest competitor with greater scope for market share gains given the company's wide product range and globally diverse sourcing network and customer base. The product portfolio of fruits and vegetables is well aligned with consumer preferences for healthy eating and lifestyle and environmental sustainability, leveraging the well-recognized and high quality Dole brand. Dole plc's superior vertically integrated business model provides the company flexibility in sourcing and substantially strengthens its control over the supply chain, an indispensible competitive advantage given the perishability of fresh produce."

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

Shares of Dole closed at $16.05 yesterday.

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