UPDATE: Wedbush Initiates Coverage On WhiteWave Foods As Near-Term Concerns Are Priced In

In a report published Wednesday, Wedbush Securities analyst Phil Terpolilli initiated coverage on WhiteWave Foods Co. (NYSE: WWAV) with an Outperform rating and $48.00 price target.

In the report, Wedbush Securities noted, "We believe WhiteWave's long-term growth outlook is favorable versus CPG peers based on leading/dominant brand share in most categories, positive exposure to structural consumer shifts towards healthy eating, benefits from recent and future M&A, and potential annual operating margin expansion. We believe long-term prospects remain favorable and overshadow near-term concerns (out-of-stocks, private label, currency)."

WhiteWave Foods closed on Tuesday at $41.33.