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Investing.com - Kepler Cheuvreux upgraded ForFarmers NA (AS:FFARM) stock rating from Hold to Buy while raising its price target to EUR5.25 from EUR4.05, representing a 29.6% increase.
The upgrade follows ForFarmers’ successful strategy revision that has delivered better-than-expected results over the past 12-18 months, according to Kepler Cheuvreux’s research note.
The investment firm raised its EBIT and EPS estimates for ForFarmers by 14-35%, citing improved performance that was partly supported by favorable market conditions and an easy comparison base.
Kepler Cheuvreux noted that ForFarmers’ valuation appears "too attractive to ignore" based on revised projections, despite incorporating limited earnings visibility and potential adverse market conditions into its price target.
The analyst’s note appears to contain an inconsistency, as it mentions upgrading from Hold to Buy while the factual context header indicates a downgrade from Buy to Hold.
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