Brokerages say Dole far ahead of closest rival, raise PTs

Dole

24/08/2021 13:40

** Shares of farm produce giant Dole Plc  DOLE.N  up 3.4% at
$16.60 premarket
    ** Four brokerages start coverage on DOLE as silent period
after IPO ends
    ** DOLE was formed through the merger of Ireland's Total
Produce PLC and Dole Food Company Inc
    ** Deutsche Bank starts coverage with "buy" rating and $19
PT
    ** Brokerage says DOLE will be a market leader in the fresh
produce sector, generating twice as much revenue as its nearest
competitor with scope for market share gains
    ** Co's vertically integrated business model provides DOLE
the flexibility in sourcing and substantially strengthens its
control over the supply chain - Deutsche Bank
    ** BMO starts coverage with "market perform" rating and PT
$19
    ** DOLE will generate above-average growth over the
long-term and will continue to consolidate the highly fragmented
global fruit and vegetable industry - BMO
    ** Stephens starts coverage with "overweight" rating and $19
PT
    ** With the deleveraging of the balance sheet, DOLE is
better positioned to put capital to work in higher growth
organic and inorganic investments to improve margins - Stephens
    ** Brokerage says the Dole/Total Produce combination creates
a global enterprise that is twice as large as the next closest
competitor
    ** DOLE shares up 10.7% since debut on July 30

 (Reporting by Siddarth S)
 ((Siddarth.s@thomsonreuters.com;))