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Fly News Breaks for May 16, 2017
PF
May 16, 2017 | 07:27 EDT
Berenberg analyst Adam Mizrahi initiated Pinnacle Foods with a Buy and a $68 price target given a high degree of cost savings visibility that will be a driver of 360bps of gross margin expansion over the next three years. The analyst also said Pinnacle has an attractive product portfolio and expects the company to increase its focus on consolidation this year and build on its track record of accretive acquisitions, but also notes its a possibility that Pinnacle is acquired.
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