Deutsche Bank Maintains Hold On Amira Nature Foods, $18 PT
In a research report issued Monday, Deutsche Bank analyst Eric Katzman maintained a Hold rating on Amira Nature Foods (NYSE:ANFI) with a price target of $18.00.
Katzman observed, “We recently visited with Amira in India and came away positive on LT global basmati rice market growth and the company’s ability to exploit the opportunity. While a low relative valuation (11x C2015 P/E) makes the stock tempting and should limit downside, we see several shorter term hurdles over the next 6-12 months that will likely keep the stock range bound. Diwali Mubarak! (Happy Holiday) Mgmt remains bullish on the future and is taking steps to meet LT 20% sales and 20-25% EBITDA growth goals incl. plant expansion, organic product focus, debt refinancing, employee hiring, new offices and possible M&A. CEO Chanana is driving the team to achieve $1+ bil revenue and $150+ bil EBITDA in the next few years which assumes new capacity and mix improvement.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Eric Katzman has a total average return of 6.6% and a 53.2% success rate. Katzman has a 70.9% average return when recommending ANFI, and is ranked #779 out of 3347 analysts.