Jefferies Reiterates Buy Rating on Tupperware (TUP)

Jefferies & Company is out with a research report this morning, where it reiterates its Buy rating on Tupperware TUP; it has a $60.00 price target on the name. The Jefferies analysts cited a recent meeting with management, where the take aways were that the incident in Russia appears to be isolated and that organic growth opportunities are high. The analysts said, “Additionally, established markets, particularly in Europe, have been performing well driven by unique innovations featuring high technology resins and award winning designs, as well as a move to expand the typical Tupperware user from larger families in rural areas to smaller families and singles in the more urban centers through updated party formats.” The analysts noted the company’s confidence in its outlook for +6% to +8% local currency sales growth this year, pointing to the +7% sales force size advantage company-wide at the end of the 2Q.