Auriga Reiterates a 'Hold' on Fresh Del Monte (FDP); Leaving Estimates Unchanged Heading Into Q1

Auriga reiterates a 'Hold' on Fresh Del Monte (NYSE: FDP) price target of $24.00.

Analyst, Gary Albanese, said, "We expect Fresh Del Monte to report lower results for its first quarter due to numerous factors, including a weak European market, excess market fruit supplies that carried over from the fourth quarter and higher fuel costs. We are expecting the company to report EPS of $0.75, which is lower than the company's results from last year as well as below consensus. We nevertheless believe that the supply environment improved as the quarter progressed, mostly because excess market supplies were likely reduced over time. On the conference call, we will concentrate on management's comments regarding the current market environment, especially regarding economic sensitivities in Europe, which represented almost a quarter of 2011 revenue."

For an analyst ratings summary and ratings history on Fresh Del Monte click here. For more ratings news on Fresh Del Monte click here.

Shares of Fresh Del Monte closed at $22.37 yesterday.

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