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Dean Foods Company Message Board

  • walk57 walk57 Mar 4, 2013 8:31 AM Flag

    Keybanc

    Not sure when these guys started covering DF.

    "Dean Foods (NYSE: DF) was upgraded by equities researchers at KeyBanc from a “hold” rating to a “buy” rating in a report issued on Monday. The firm currently has a $21.00 target price on the stock."

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    • Dean Foods upgraded to Buy at KeyBanc Capital Mkts; tgt $21 following meetings with mgmt (16.92 )

      KeyBanc upgrades DF to Buy from Hold and sets target price at $21. Adjusted for its ownership stake in WWAV, DF is trading at a significant discount to its peers (3.5x EV/EBITDA compared to about 7x for its agribusiness peers), which firm thinks is unwarranted. Given DF's stable free cash flow (FCF) generation, transformation of balance sheet to a position of strength (2x levered after adjusting for DF's ownership stake in WWAV after adjusting for the sale compared to over 3x before), and relatively stable nature of the milk category (compared to agribusiness sector), firm believes DF could trade at an EV/EBITDA multiple that is at least in line with its agribusiness peers.

      Sentiment: Hold

 
DF
16.13-0.01(-0.06%)Aug 27 4:03 PMEDT

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