New York, August 3 (FinanceEnquiry.com) – Analyst Tom Graves at S&P CAPITAL IQ keeps STRONG BUY ratings on the shares of Ralcorp Holdings (NYSE: RAH). The 12-month target price is set to $72.
In a research note published yesterday, the analyst mentions that the target price has been maintained at $72 as it has been expected that the prospects of FY13 for September cost reductions to help provide support for the stock, though company’s EPS guidance for June Q of $060, which was less than the bank’s estimate of $0.75, before special items has been disappointing. The EPS estimates for FY12 and FY13 have been reduced from $3.35 to $3.10 and from $3.99 to $3.85.
It has been expected that the maker of private label products to benefit from consumer cost consciousness and competition among retailers. The extent to which RAH’s business is US centric has been appreciated, the analyst says.
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