🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

Tupperware Jumps on DA Davidson's Vote of Confidence in New Management

Published 16/09/2020, 02:18 am
© Reuters.
TUP
-

By Christiana Sciaudone

Investing.com --   Tupperware (NYSE:TUP) is up 11% on Tuesday after DA Davidson initiated coverage with a buy.

Shares are trading at their highest level in about 18 months, at just over $26.

Analyst Linda Bolton Weiser set a target price of $30, saying the business pivoted in the second quarter under new management, and pulled out flat organic sales after three quarters of double-digit declines. 

"Operating cash flow more than doubled and the stock surged 68%," StreetInsider reported Weiser as saying. "TUP disclosed projections for 7% revenue and 41% EBITDA growth in 2021."

Catalysts in coming months include more bond repurchases, land sales, sales of the non-core beauty businesses, and the unveiling of the new growth strategy, according to Weiser.

In July, the company reported earnings per share of 84 cents versus the estimated 14 cents on sales of $397.4 million compared to the expected $316.2 million. Shares have two buy ratings, two holds and no sells.

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.