Barclays Maintains an 'Equalweight' on Cott (COT); A More Modest Outlook

Barclays maintains an 'Equalweight' on Cott Corporation (NYSE: COT) price target lowered from $9.50 to $8.00.

Barclays analyst says, "COT's top-line and profit results in 3Q11 were broadly better than expected, though a more cautious 2012 commodity cost outlook, albeit not a total surprise, is pressuring the shares today, in our view. Management tweaked a number of guidance items, including a slightly lower view for free cash flow in 2011."

"We are increasing our 2011 EPS forecast to $0.70 to account for today's beat. But, our 2012 EPS forecast remains unchanged at $0.75, reflecting more favourable below-the-line items, albeit with lower EBIT. We are lowering our price target to $8 to account for lower EBITDA in 2012 due to higher than expected inflation."

For more ratings news on Cott Corporation click here and for the rating history of Cott Corporation click here.

Shares of Cott Corporation closed at $6.73 yesterday.

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