BB&T Capital;
"November 18, 2008, 2:03PM EST
BB&T CAPITAL UPGRADES CHIQUITA TO BUY FROM HOLD
BB&T Capital analyst Heather Jones says since Chiquita Brands International (CQB) reported third quarter earnings on Oct. 30, CQB shares have declined 31.7%, vs. a 10.8% drop for S&P 500, despite a 7.6% increase yesterday, which was triggered by insider buying.
Jones thinks the pressure is likely attributable to fund selling, as incremental fundamental data is positive. She adds that management has done an impressive job in cleaning up the balance sheet.
She notes CQB is very comfortably positioned with regard to its debt covenants. She expects the company to continue to reduce debt, as its cash flow has been solid. She sees $1.55 2008 EPS and $1.17 2009. Jones has a $14 price target on the stock."
"February 20, 2009, 11:53AM EST
BB&T CAPITAL DOWNGRADES CHIQUITA BRANDS TO HOLD FROM BUY
BB&T Capital analyst Heather Jones says Chiquita Brands International's (CQB) $0.74 fourth quarter loss, excluding writedown on Fresh Express, was much worse than her $0.23 loss estimate.
She says the shortfall relative to her view was attributable to flood costs in Costa Rica, which were not in her model, higher-than-expected legal fees and investment spend, and bigger hit from fuel hedges.
Jones cuts $1.17 2009 EPS estimate to $0.95 largely due to the incremental interest expense. She believes the shares are now fully valued, particularly given overall multiple compression across the group."
This Heather Jones has a serious case of ineptitude LOLOL.
