Leading stock broker Merrill Lynch revealed yesterday [Wednesday] that it has upped its midterm rating on US food producer International Multifoods Corp.
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Following the company’s announcement that its Q4 earnings have practically doubled year on year, Merrill raised the rating from “neutral” to “buy”.
International Multifoods, the largest US food distributor to vending machines, posted Q4 earnings, excluding unusual items, of US$5.9m, 30 cents/share, compared to US$2.9m, 15 cents, in the previous year.
