In a report released today, Andrew Wade from Jefferies reiterated a Buy rating on Premier Foods, with a price target of p230.00.
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Andrew Wade has given his Buy rating due to a combination of factors including Premier Foods’ improved trading performance in the second quarter. The company experienced an acceleration in branded growth, rising to 2.5% from 1.2% in the first quarter, which indicates a positive trend in their core business segments.
Additionally, Premier Foods has maintained its full-year trading profit guidance and slightly increased its profit before tax expectations. Trading at a price-to-earnings ratio of just 11 times, the stock presents a compelling value for a high-quality operator, reinforcing the Buy recommendation.