Prospects for Diamond Foods (NASDAQ:DMND) Emerald and Kettle's long-term growth look good, says KeyBanc, and they believe Diamond will have another good year.
KeyBanc said, "We are raising our price target on BUY-rated Diamond Foods to $60 to reflect our continued optimism regarding Emerald and Kettle's long-term growth prospects and our belief that the Company will have another good year in FY11. We believe that DMND has the potential to earn $4.50 in EPS by FY14 (implying a four-year CAGR of 24%) owing to the continued growth of its Emerald brand and the addition of Kettle. The focus of this note is on the drivers of our long-term sales and EPS targets and on our updated valuation framework."
KeyBanc maintains a "Buy" rating on Diamond Foods, which closed Wednesday at $52.01, down $0.19, or 0.36 percent. KeyBanc raised their price target on Diamond from $52 to $60.
Thursday, January 6, 2011
Diamond Foods (NASDAQ:DMND) Emerald and Kettle Long-term Growth Prospects Look Good
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Diamond Foods,
KeyBanc
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