Ahead Of The Bell: Chiquita Reports Strong 3Q
Stock quotes in this article:
CQB
NEW YORK (AP) Shares of Chiquita Brands International Inc. rose in premarket trading on Wednesday after the banana and produce seller reported a third-quarter profit as it trimmed costs and better managed its pricing strategy to deal with seasonal shifts.
Jefferies & Co. analyst Scott Mushkin said results were helped by improved results in Fresh Express salads and better-than-expected banana sales. "Success with the company's turnaround of its salad operations continues and Chiquita has again raised profitability expectations for salads in 2009," said Jefferies & Co. analyst Scott Mushkin and reiterated his "Buy" rating. He raised his target price to $25 from $29. Shares rose 4.1 percent, or 60 cents, to $15.35 during premarket trading.- Loading Comments...
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