What To Know About Credit Suisse's Downgrade of Nomad Foods

Credit Suisse downgraded its rating of Nomad Foods NOMD to Neutral with a price target of $20.00, changing its price target from $25.00 to $20.00.

Shares of Nomad Foods are trading down 7.75% over the last 24 hours, at $16.55 per share.

A move to $20.00 would account for a 20.85% increase from the current share price.

About Nomad Foods

Nomad Foods Ltd is a packaged foods company that is involved in the business of manufacturing and distribution of branded frozen foods in Western Europe. The company manufactures and markets frozen food products such as fish, vegetables, poultry, and ready meals. It sells its products primarily through large grocery retailers under the brand Birds Eye in the United Kingdom and Ireland, Findus in Italy, France, Spain, and Scandinavia, and Iglo in Germany and other continental markets. The company operates through a single segment being Frozen. The majority of the revenue is generated from the United Kingdom.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.