Piper Jaffray Upgrades Boulder Brands (BDBD) to Overweight
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Rating Summary:
2 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 13 | New: 18
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Piper Jaffray upgraded Boulder Brands (NASDAQ: BDBD) from Neutral to Overweight with a price target of $13.00 (from $11.00).
Analyst Sean Naughton comments, "We believe the recent pullback in shares, potentially lower commodity costs and dramatically reduced earnings estimates have created an attractive risk/reward at current levels, and as such, we are upgrading BDBD shares to Overweight. Admittedly, this is not a call without some risk given the recent execution, stock sales by the CEO, large spike in a primary input cost, weak trends for the company's largest brand and increased competition in the gluten free category. That said, we are staking our thesis primarily on the consistent growth of Udi's, Earth Balance and EVOL, conservative assumptions, scarcity value in small cap staples and potential normalization of a key input cost."
The firm maintained FY 2014 EPS at $0.23 and trimmed FY 2015 EPS from $0.35 to $0.28.
For an analyst ratings summary and ratings history on Boulder Brands click here. For more ratings news on Boulder Brands click here.
Shares of Boulder Brands closed at $8.76 yesterday.
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