Barclays Maintains an 'Equalweight' on Heinz (HNZ); Same Forecast, New Path
Tweet
Share
E-mailGet Alerts HNZ Hot Sheet
Price: $72.49 --0%
Rating Summary:
0 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 19
Rating Summary:
0 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 19
Join SI Premium – FREE
Barclays maintains an 'Equalweight' on Heinz (NYSE: HNZ) price target of $55.00.
Barclays analyst says, "On HNZ's fiscal 2Q12 conference call, the company reaffirmed its full-year fiscal 2012 constant currency EPS guidance of +6-8% growth, but pointed out that it will achieve this in a different way versus its original plan. Basically, weaker gross margins are expected to be mitigated by more aggressive SG&A actions, a lower net interest expense (relative to initial expectations), a lower-than-forecast tax rate, as well as stronger emerging markets growth. We are hard pressed to think of too many food companies that have not had to course correct at least a bit as this year has progressed." (Barclays lowers FY EPS estimate from $3.30 to $3.29)
For an analyst ratings summary and ratings history on Heinz click here. For more ratings news on Heinz click here.
Shares of Heinz closed at $51.07 yesterday.
Barclays analyst says, "On HNZ's fiscal 2Q12 conference call, the company reaffirmed its full-year fiscal 2012 constant currency EPS guidance of +6-8% growth, but pointed out that it will achieve this in a different way versus its original plan. Basically, weaker gross margins are expected to be mitigated by more aggressive SG&A actions, a lower net interest expense (relative to initial expectations), a lower-than-forecast tax rate, as well as stronger emerging markets growth. We are hard pressed to think of too many food companies that have not had to course correct at least a bit as this year has progressed." (Barclays lowers FY EPS estimate from $3.30 to $3.29)
For an analyst ratings summary and ratings history on Heinz click here. For more ratings news on Heinz click here.
Shares of Heinz closed at $51.07 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Enhanced Group Inc. (ENHA) PT Lowered to $5 at Canaccord
- Gemini Space Station (GEMI) PT Lowered to $6 at Rosenblatt
- Home Depot (HD) PT Raised to $340 at Stifel Amid 'Sea Change in Investor Sentiment'
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
BarclaysSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
