BB&T Has Hold On Fresh Del Monte Produce (FDP)

BB&T Capital Markets is out with a research report on Fresh Del Monte Produce Inc. (NYSE: FDP) after it reported earnings. It has a Hold rating on shares.

In a note to clients, BB&T writes, "Estimates. We have increased our FY'11 EPS estimate to $2.50 from $2.27 due to higher expected banana pricing and profitability, tempered somewhat by lower margins in its melon business. Although banana industry fundamentals are largely positive, we believe the shares already discount significant yr/yr improvement. Thus, we have retained our Hold (2) rating at this time."