J.P. Morgan Rates Alberto-Culver Neutral

Alberto-Culver Company's ACV FQ4 adjusted EPS of $0.46 “exceeded our on consensus forecast of $0.40 due to much lower than anticipated spending and tax rate,” J.P. Morgan reports. The underlying business performed in-line with J.P. Morgan's expectations. “Overall, we view these results as a non-event given the pending acquisition of Alberto by Unilever,” J.P. Morgan writes. “The company will not host a conference call to discuss its results.” J.P. Morgan said that it is rating Alberto Netural, saying, “Given the pending acquisition of Alberto by Unilever at $37.50/share, we expect the stock to trade around the take-out price.” Alberto-Culver currently trades at $37.33.