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Fly News Breaks for January 11, 2016
BDBD, PF
Jan 11, 2016 | 07:41 EDT
BMO Capital upgraded Pinnacle Foods (PF) and named it a top pick in the wake of its acquisition of Boulder Brands (BDBD). The firm expects Pinnacle's growth to exceed its long-term target in 2016, driven partly by product innovation and "margin management." The firm expects the Boulder deal to "transform Pinnacle's earnings power," and it predicts that Pinnacle's growth will accelerate after 2017, partly due to its increased emphasis on higher growth products and the Boulder deal. Target to $50 from $42.
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