NEW YORK (TheStreet) -- Bob Evans Farms (BOBE) was upgraded to "buy" from "hold" with a $58 price target, Miller Tabak said Thursday. The investment firm said visibility is improving for an earnings turnaround.
On Wednesday, Bob Evans reported net income of 30 cents a share, far lower than 57 cents a share analysts surveyed by Thomson Reuters had anticipated.
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Separately, TheStreet Ratings team rates BOB EVANS FARMS as a Hold with a ratings score of C+. The team has this to say about their recommendation:
"We rate BOB EVANS FARMS (BOBE) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins."
- You can view the full analysis from the report here: BOBE Ratings Report