WhiteWave Foods (NYSE:WWAV) is up 8% at the midday trading hour after Morgan Stanley analyst Matthew Granger upgraded its rating from equal weight to overweight and reaffirmed its $19 a share price target.
Morgan Stanley noted, “WhiteWave offers best-in-class mid-term growth targets (6-7% sales, 12-15% EBIT), driven by its concentrated portfolio of brands in high-growth Food categories (plant-based beverages, coffee creamers, organic dairy).
Recent topline growth has reached double-digits on the strength of successful innovation, but the pace should moderate going forward.
WhiteWave Foods (NYSE:WWAV) shares closed Friday at $16.25 per share. The WhiteWave Foods Company engages in the manufacture, marketing, distribution, and sale of plant-based foods and beverages, coffee creamers and beverages, and dairy products in North America and Europe.
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