NEW YORK (TheStreet) -- Shares of Boulder Brands Inc. (BDBD) are up 2.85% to $9.01 in pre-market trading today, after the company was upgraded to "overweight" from "neutral" at Piper Jaffray.
The firm said it raised Boulder Brands' rating because potentially lower commodity costs and reduced expectations have created attractive risk/reward at current levels.
The firm set a price target of $13 for the health and wellness food solutions provider, up from its previous mark of $11.
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Piper Jaffray also increased its annual revenue estimates to $523.9 million, from $522.6 million for fiscal 2014, and to $583.5 million, from $579.3 million for fiscal 2015.
"We believe the recent pullback in shares, potentially lower commodity costs and dramatically reduced earnings estimates have created an attractive risk/reward at current levels," said Piper Jaffray analyst Sean P. Naughton.
Separately, TheStreet Ratings team rates BOULDER BRANDS INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate BOULDER BRANDS INC (BDBD) 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 robust revenue growth, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity."