FDP - Dole rallies after attracting mostly positive rating from analysts

Analyst coverage begins on Dole plc (NYSE:DOLE) after the expiration of the quiet period. The fresh produce company is attracting mainly positive ratings with Goldman Sachs (Buy rating, $26 price target), Deutsche Bank (Buy, $19 PT), Stephens (Overweight, $19 PT) and Davy Securities (Outperform) all high on the upside. Showing more caution is BMO Capital Markets (Market Perform) and Bank of America (Underweight). BofA's bearish take: "Overall, we see limited upside to shares as we believe industry volatility, low margins and an asset-intensive profile will outweigh the potential scale and synergies created by the business combination. Our $15 PO is based on 6.7x our post transaction CY22 EV/EBITDA estimate... Overall we believe a discount is justified given the lack of transparency from a historical results perspective and a low margin profile amidst an inflationary backdrop." Shares of Dole (DOLE) are up 2.56% premarket to $16.46 to trade above the IPO pricing level

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Dole rallies after attracting mostly positive rating from analysts