Del Monte Foods (DLM)

Del Monte's (DLM) long-term objectives are to achieve earnings growth in the range of 7% to 9% and topline growth in the range of 3% to 5%. However, the guidance for both earnings and revenues growth for fiscal 2010, exceed the long-term range, and are now expected to increase by approximately 15% and 4% to 6%, respectively.

Price increases implemented across the product portfolio helped Del Monte post strong profits during the first quarter of fiscal 2010 compared to a net loss in the comparable prior-year period. Del Monte has been able to boost sales through continued emphasis on product and packaging innovation.

We therefore upgrade the shares of Del Monte to Outperform.

Del Monte Foods (DLM) : FULL ANALYST REPORT

Read the full analyst report on DLM