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CEDC Snaps Back
Central European Distribution Corp (CEDC - Snapshot Report) shares rose nearly 13% on heavy-volume to recover from its 52-week low on Wednesday after the company reaffirmed its guidance for fiscal 2008 and 2009. CEDC said its business fundamentals were strong in Russia and Poland and the recent strength of the Polish currency was helping its margins.
The Polish vodka-maker expects EPS of $2.75-$2.95 in 2008 and EPS of $3.75-$4.00 in fiscal 2009. The analyst community has a bullish view on CEDC, with an average target price of $77, they believe the current stock price does not reflect the company's potential.
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| Market Summary | Feb 09, 2010 21:53 pm ET |
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