Smart Balance’s bounce could continue -Barron’s
October 27th, 2008 | by admin |NEW YORK, Oct 26 (Reuters) - The recent rebound in shares ofSmart Balance Inc (SMBL.O: Quote, Profile, Research, Stock Buzz) could continue as the healthy-foodmaker, which may be a takeover target, grows its market share,Barron’s reported.
The paper said it is “upbeat” about Smart Balance, citingMontgomery Scott analyst Mitch Pinheiro, who has a 12-month stockprice target of $11 on the company.
Shares of Smart Balance, which makes low-cholesterol butteryspreads, closed at $6.25 on Friday, up 28 percent from a lowearlier this month. However, they have fallen about 42 percent sofar this year.
“With its low stock price, Smart Balance also could be snappedup by a larger rival such as ConAgra (CAG.N: Quote, Profile, Research, Stock Buzz), Unilever (ULVR.L: Quote, Profile, Research, Stock Buzz) orNestle (NESN.VX: Quote, Profile, Research, Stock Buzz),” the paper said. (Reporting by Jonathan Spicer; Editing by Phil Berlowitz)
