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Fresh Del Monte Produce Inc. Message Board

  • Emel_ Emel_ Apr 29, 2010 10:48 PM Flag

    Oh-Oh - Chiquita missed badly

    Reported a loss mainly due to banana weakness in Europe, and BB&T (Heather Jones) was none too pleased. (She was the analyst who downgraded FDP a month ago, in part by saying it was overvalued compared to, yup, Chiquita.) So that, of course, means she'll downgrade Fresh Del Monte again in the morning.

    Ok, maybe that's a little too cynical, but I imagine she'll downgrade Chiquita in the morning, and probably lower estimates and price target for Fresh Del Monte.

    I already expected FDP to miss estimates based on Chiquita's warning in early April. Now, it's probably a given. Pineapples and melons hopefully will offset banana weakness somewhat (also FDP is not as big in Europe as CQB) but still expect a miss.

    Whatever happens, happens. Fresh Del Monte is still best positioned to get through the banana glut least scathed.

44.434+0.194(+0.44%)9:32 AMEST