UPDATE: Morgan Stanley Reiterates On WhiteWave Foods Co Following Recent Balance Sheet Cleanup

In a report published Monday, Morgan Stanley analyst Matthew Grainger reiterated an Overweight rating on WhiteWave Foods Co (NYSE: WWAV), but removed the $37.00 price target.

In the report, Morgan Stanley noted, “WWAV on Friday completed an offering of $500 million in 5.375% 8-year notes, which should enable the company to repay a combination of outstanding debt under both its revolver (~$290 MM) and existing credit facility. Given its cost of debt at present (~2.0% as of 2Q14), we believe this transition – all else equal – could be modestly dilutive to near-term EPS (up to ~$0.06 on 2015e EPS), but serves the dual purpose of extending the duration of the company's existing leverage at a relatively attractive rate, while also providing headroom for potential acquisitions going forward.”

WhiteWave Foods Co closed on Friday at $37.37.

Latest Ratings for WWAV

Sep 2014	Stifel Nicolaus	Maintains		Buy
Aug 2014	Longbow Research	Downgrades	Buy	Neutral
Aug 2014	Deutsche Bank	Maintains		Buy

View More Analyst Ratings for WWAV
View the Latest Analyst Ratings

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