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Aug 22 2024, 07:00 IST/BST
Dole plc
Model update – upgrades supported by ongoing delivery
DAVY VIEW
We are upgrading our FY24 adjusted EBITDA forecasts by c.3.5% to c.$383.5m following Dole’s continued strong performance in Q2-24. We believe Dole’s current valuation does not correctly reflect the company's strong track record of profit delivery and the substantial progress it has made in deleveraging its balance sheet. As such, we are reiterating our ‘Outperform’ rating and upgrading our share price target to $19, implying c.23% upside to the current market price.
