Goldman Sachs analyst Jason English upgraded his rating for Pinnacle Foods Inc (NYSE:PF) from Neutral to Buy with a price target of $57, marking an increase of 21% from current levels. The analyst believes that investors should buy the stock now before the “valuation window closes.” The analyst credits improvements in its center-store grocery division, better free cash flow numbers and potential M&A as reasons the stock price could jump. PF is in a perfect place to grow slowly through acquisitions or being a target on its own. Its management has shown the ability to make worthwhile acquisitions that add value to the company. English expects Pinnacle Foods to match consensus expectations this year and then beat it next year.
According to TipRanks, the analyst has a success rate of 46% with an average loss of 2.2% per recommendation.