Krispy Kreme (KKD) Gets Boost From Surprise Analyst Call
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CONTRIBUTOR Jon C. Ogg http://247wallst.blogspot.com
The largest Analyst Impact Call goes to Krispy Kreme (NYSE: KKD) today. Yes, the troubled doughnut company that hasn't made proper SEC filings for as long as anyone cares to remember. KKD is up 8% at $9.97 before noon today. It gapped up to about $9.60 from a $9.24 close yesterday, and it has hardly looked back.
Prudential's analyst Howard W. Penney initiated coverage of Krispy Kreme at an "Overweight" rating (just like Krispy Kreme eaters) with a 12-to-18 month price target of $15. Prudential believes that the high brand loyalty and its business model will help to create strong cash flows and high return on investment. The analyst also expects the company to file its way-late financial statements by October 31. It is embattled in a criminal investigation and more shareholder suits than you would want to discuss.
Whatever diet fad comes out tends to go against Krispy Kreme. It doesn't matter if you try Atkins, South Beach, NutriSystems, Herbalife, restricted calorie, heart healthy, or any of them. Krisp Kreme gets hit by every diet out there, except maybe for the Pigging Binger Plan.
The stock is still down well over 80% from its old highs, but it is up over 130% from the $3.91 recent lows in the last 52-weeks. The 52-week high for KD is $12.11.
http://247wallst.blogspot.com
The largest Analyst Impact Call goes to Krispy Kreme (NYSE: KKD) today. Yes, the troubled doughnut company that hasn't made proper SEC filings for as long as anyone cares to remember. KKD is up 8% at $9.97 before noon today. It gapped up to about $9.60 from a $9.24 close yesterday, and it has hardly looked back.
Prudential's analyst Howard W. Penney initiated coverage of Krispy Kreme at an "Overweight" rating (just like Krispy Kreme eaters) with a 12-to-18 month price target of $15. Prudential believes that the high brand loyalty and its business model will help to create strong cash flows and high return on investment. The analyst also expects the company to file its way-late financial statements by October 31. It is embattled in a criminal investigation and more shareholder suits than you would want to discuss.
Whatever diet fad comes out tends to go against Krispy Kreme. It doesn't matter if you try Atkins, South Beach, NutriSystems, Herbalife, restricted calorie, heart healthy, or any of them. Krisp Kreme gets hit by every diet out there, except maybe for the Pigging Binger Plan.
The stock is still down well over 80% from its old highs, but it is up over 130% from the $3.91 recent lows in the last 52-weeks. The 52-week high for KD is $12.11.
http://247wallst.blogspot.com
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