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BB&T Capital's Rating Change Only Had Short-term Impact, Fresh Del Monte Produce Up 0.6% (FDP)

Published on Thu, 02/07/2013 - 10:10
By Adrienne Chilton

Fresh Del Monte Produce was downgraded from Buy to Hold by BB&T Capital one week ago. The shares closed at $26.74, or 0.6% over the $26.57 price of one week ago.

Fresh Del Monte Produce has overhead space with shares priced $26.83, or 5.9% below the average consensus analyst price target of $28.50. The stock should find initial support at its 50-day moving average (MA) of $26.32 and further support at its 200-day MA of $24.87.

In the past 52 weeks, Fresh Del Monte Produce share prices have been bracketed by a low of $21.80 and a high of $27.50 and are now at $26.83, 23% above that low price. The 200-day and 50-day moving averages have moved 0.26% higher and 0.33% higher over the past week, respectively.

Fresh Del Monte Produce Inc. produces and markets bananas, pineapples, deciduous fruit, melons, and other fresh produce and non-produce items. The Company grows, distributes, transports, and markets its products worldwide.

By Adrienne Chilton