Jefferies Believes Nomad Foods (NYSE: NOMD) Won’t Stop Here

By Ryan Adsit

In a report released today, Robert Dickerson from Jefferies maintained a Buy rating on Nomad Foods (NOMDResearch Report), with a price target of $25.00. The company’s shares closed last Wednesday at $23.34, close to its 52-week high of $23.86.

According to TipRanks.com, Dickerson is a 3-star analyst with an average return of 2.1% and a 59.2% success rate. Dickerson covers the Consumer Goods sector, focusing on stocks such as The Simply Good Foods Company, Mondelez International, and Lamb Weston Holdings.

Currently, the analyst consensus on Nomad Foods is a Strong Buy with an average price target of $24.83.

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Based on Nomad Foods’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $683 million and net profit of $47.5 million. In comparison, last year the company earned revenue of $618 million and had a net profit of $22.4 million.

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Nomad Foods Ltd. operates as a holding company, which manufactures and sells frozen foods for human consumption. It offers its products under the brands LUTOSA, la Cocinera, Birds Eye, Iglo, and Findus. The company was founded by Noam Gottesman and Martin E. Franklin in April 2014 and is headquartered in Middlesex, the United Kingdom.