BB&T Capital Raises PT on The Andersons to $51 (ANDE)

BB&T Capital is out with its report today on The Andersons ANDE, raising its price target to $51. In a note to clients BB&T Capital writes, "We recently hosted investor meetings with ANDE management and the takeaways were broadly bullish. The company is well positioned to benefit from a secular bull cycle in agriculture and its rail division has turned the corner and should help underpin earnings growth over the next 2-3 years. Our price target is $51, or 12.8x our FY'12 EPS estimate. The shares currently trade at 12.3x our FY'11 estimate." At the time of posting, shares of ANDE were trading at $47, up 0.53% from Thursday's close.