Pinnacle Foods Received its Third Buy in a Row

By Jason Carr

After Stifel Nicolaus and Credit Suisse assigned a Buy rating to Pinnacle Foods in the last month, the company received another Buy, this time from BMO Capital. Analyst Kenneth Zaslow reiterated a Buy rating on Pinnacle Foods (NYSE: PF) yesterday and set a price target of $63. The company’s shares closed yesterday at $59.78.

According to TipRanks.com, Zaslow is a 4-star analyst with an average return of 24.8% and a 85.7% success rate. Zaslow covers the Consumer Goods sector, focusing on stocks such as Archer Daniels Midland, Mondelez International, and Monster Beverage Corp.

Currently, the analyst consensus on Pinnacle Foods is Strong Buy and the average price target is $64.60, representing an 8.1% upside.

In a report issued on July 25, RBC Capital also reiterated a Buy rating on the stock with a $67 price target.

Pinnacle Foods’ market cap is currently $7.1B and has a P/E ratio of 39.07. The company has a book value ratio of 3.6530.

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Pinnacle Foods, Inc. engages in the provision of manufacturing, marketing, and distribution of branded food products in North America. It operates through the following segments: Frozen, Grocery, Boulder, and Specialty. The Frozen segment includes Hungry-Man frozen entrées; Van de Kamp’s and Mrs.