Jefferies Believes Nomad Foods (NYSE: NOMD) Won’t Stop Here

In a report issued on May 6, Robert Dickerson from Jefferies maintained a Buy rating on Nomad Foods (NOMDResearch Report), with a price target of $36.00. The company’s shares closed last Tuesday at $28.37, close to its 52-week high of $29.66.

According to TipRanks.com, Dickerson is a 4-star analyst with an average return of 11.3% and a 75.3% success rate. Dickerson covers the Consumer Goods sector, focusing on stocks such as The Simply Good Foods Company, Mondelez International, and Lamb Weston Holdings.

Currently, the analyst consensus on Nomad Foods is a Strong Buy with an average price target of $34.29, representing a 19.5% upside. In a report issued on May 2, Deutsche Bank also maintained a Buy rating on the stock with a $35.00 price target.

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Based on Nomad Foods’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $658 million and net profit of $58.7 million. In comparison, last year the company earned revenue of $683 million and had a net profit of $47.5 million.

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Nomad Foods Ltd. operates as a holding company, which manufactures and sells frozen foods for human consumption. It offers its products under the brands LUTOSA, la Cocinera, Birds Eye, Iglo, and Findus. The company was founded by Noam Gottesman and Martin E. Franklin in April 2014 and is headquartered in Middlesex, the United Kingdom.