Janney Montgomery Scott Starts Tupperware Brands (TUP) at Neutral, $65 Fair Value Estimate

Janney Montgomery Scott initiates coverage on shares of Tupperware Brands (NYSE: TUP) with a Neutral rating and $65 future value.

The firm reports that the company's Asia-Pacific business, which represented 25% of 2010 total sales, has grown in revenue at a 18% pace since 2006. As a result the firm believes that the segment’s stellar margins and 31% profit contribution have repositioned Tupperware as an above-average growth story.

Janney comments, "the Great Recession revealed severe macro vulnerability, marketing plan changes remain in show-me mode, and we believe comparable investments don’t need macro acceleration to make sense at current valuations."

The firm released its FY11 EPS estimate at $2.98, FY12 at $5.20, and FY13 at $5.92.

For more ratings news on Tupperware Brands click here and for the rating history of Tupperware Brands click here.

Shares of Tupperware Brands closed at $62.58 yesterday.

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