BWS Financial Maintains a 'Buy' on Imperial Sugar (IPSU); Raising Cash by Monetizing Asset

BWS Financial maintains a 'Buy' on Imperial Sugar (NASDAQ: IPSU) price target lowered $2 to $22.00.

BWS analyst says, "Imperial Sugar elected to dispose of its 50 percent interest in their Mexican joint venture, Comercializadora Santos Imperial. The Company sold the interest to their partner in the venture, Ingenios Santos, for $5.5 million...We believe IPSU might have taken the measure to sell the 50 percent stake in Comercializadora Santos Imperial as a means of reducing their needs to access capital...Given IPSU having to borrow money in the September quarter, leads us to anticipate the Company would report a loss for the quarter. It could end up being a lesser amount than we first feared."

For more ratings news on Imperial Sugar click here and for the rating history of Imperial Sugar click here.

Shares of Imperial Sugar closed at $6.03 yesterday.

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