Broker JPMorgan today revised its outlook on Tate & Lyle (TATE.L) to overweight from underweight. The bank stated that earnings have been held back for the last couple of years due to the companies investment in its Speciality Food Ingredients platform, however that investment is now starting to show a return.
JP Morgan anticipates that earnings growth at the company will accelerate and set a new target price of 900p revised from 735p and said “New technologies such as natural sweeteners provide further upside to current growth forecasts and suggest a bull case price target of 1,580p”
Broker JPMorgan today revised its outlook on Tate & Lyle (TATE.L) to overweight from underweight. The bank stated that earnings have been held back for the last couple of years due to the companies investment in its Speciality Food Ingredients platform, however that investment is now starting to show a return.
JP Morgan anticipates that earnings growth at the company will accelerate and set a new target price of 900p revised from 735p and said “New technologies such as natural sweeteners provide further upside to current growth forecasts and suggest a bull case price target of 1,580p”