Corn Products (NYSE:CPO) to Deliver Less Volume Growth

Volume growth for Corn Products (NYSE:CPO) will be a challenge in 2011, based upon shrinking carbonated soft drink volume.

Jefferies (NYSE:JEF) said, "Corn Products will still deliver low to mid single-digit volume growth driven by a diminished carbonated soft drink volume headwind, continued growth of HFCS exports to Mexico, 3-4% GDP growth in key international markets, and a persistent price premium for U.S. sugar vs. HFCS."

EPS/revenues estimates on Corn Products for full year 2010 and full year 2011 are $2.95/$4.31 billion and $3.77/$5.63 billion.

Jefferies launched coverage on Corn Products today with a "Hold" rating. They were trading at $46.75, down $0.02, or 0.04 percent, as of 1:57 PM EST. Jefferies has a price target of $50 on them.