BB&T Goes Bananas For Chiquita (CQB)

BB&T Capital Markets is out with a research report this morning reiterating its Buy rating and $16 price target on Chiquita Brands International, Inc. CQB after the pricing environment has improved. In a note to investors, BB&T writes, "Local EU pricing has improved over the past few weeks as consumption has increased due to cooler weather and more constrained availability of competing fruits. The benchmark price we track shows local pricing up in the mid-single digits yr/yr as compared to a 2%-3% decline 3 weeks ago. We understand that importers have worked hard to limit volumes in order to limit losses. We believe Chiquita is faring better than the overall market due to its exposure to markets that have held up better than others, in particular Southern Europe"..."We believe Chiquita’s overall Q3 pricing is very favorable, but we are monitoring that situation carefully." Shares of CQB are up 13 cents, a gain of 1.01% to $13.04.