BB&T Capital Markets Raises Chiquita Rating From Hold To Buy

BB&T Capital Markets has upgraded shares of Chiquita Brands International (NYSE: CQB) from Hold to Buy.

“We have raised our rating due to a much more favorable S/D environment for bananas,” BB&T Capital Markets writes. “This has bolstered our confidence in the company's earnings outlook next year. Consequently, we have raised our FY'11 estimate to $1.71 from $1.61 and, if the S/D scenario unfolds as we expect in H1'11, we believe our new estimate is likely conservative.”

BB&T Capital Markets has left its Q4 estimate unchanged.

Chiquita Brands International closed Tuesday at $12.77.