Jefferies Cuts Numbers on Fresh Del Monte (FDP) Following Q4 Results
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Price: $29.22 --0%
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies cut estimates and its price target on Fresh Del Monte (NYSE: FDP) from $27 to $25 while maintaining a Hold rating following Q4 results.
The firm comments, "FDP remains a very strong operator, yet difficult industry dynamics/economic conditions are placing pressure on sales and profits and we anticipate these challenges persisting for the near-term. While FDP has been confronting the issues, such as reducing volumes in traditional melons, the normalized cash flows off its assets look to be more subdued in the near-term until FDP’s efforts and better macros take hold."
FY12 EPS was cut from $2.25 to $1.85.
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 $22.97 yesterday.
The firm comments, "FDP remains a very strong operator, yet difficult industry dynamics/economic conditions are placing pressure on sales and profits and we anticipate these challenges persisting for the near-term. While FDP has been confronting the issues, such as reducing volumes in traditional melons, the normalized cash flows off its assets look to be more subdued in the near-term until FDP’s efforts and better macros take hold."
FY12 EPS was cut from $2.25 to $1.85.
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 $22.97 yesterday.
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