Total Produce wins ‘very attractive’ rating from Davy Stockbrokers

Dublin stockbroker Davy has placed a “very attractive” rating on the stock of Total Produce, after it issued an interim statement reaffirming its guidance for 2012.

The fresh food company yesterday confirmed that it is sticking to its earlier 7c-8c earnings per share guidance for the remainder of the year. Analysts immediately issued positive responses, with NCB Stockbrokers notably calling the company’s guidance “encouraging” and noting that Total Produce has an estimated €90m in the tank for acquisitions.

Davy Stockbrokers issued a 7.6c per share projection to possible investors in the company, noting that Total Produce’s stock looks a very good option, especially given “the macro backdrop and the well-versed difficulties that retailers across Europe are facing”.