Nomad Foods (NOMD) Gets a Buy Rating from Deutsche Bank

By Carrie Williams

Deutsche Bank analyst Stephen Powers maintained a Buy rating on Nomad Foods (NOMDResearch Report) on May 26. The company’s shares closed last Tuesday at $31.35, close to its 52-week high of $31.85.

According to TipRanks.com, Powers is a 4-star analyst with an average return of 7.8% and a 66.9% success rate. Powers covers the Consumer Goods sector, focusing on stocks such as The Simply Good Foods Company, The Estée Lauder Companies, and Mondelez International.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Nomad Foods with a $34.40 average price target, which is a 9.6% upside from current levels. In a report issued on May 12, Jefferies also reiterated a Buy rating on the stock with a $36.00 price target.

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The company has a one-year high of $31.85 and a one-year low of $20.58. Currently, Nomad Foods has an average volume of 775.1K.

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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.