Goldman Sachs Upgrades Tupperware Brands (TUP) to Buy On Potential Raised Dividend
Goldman Sachs upgrades Tupperware Brands (NYSE: TUP) from Neutral to Buy and sees more than 30% upside to their new price target of $60.
The firm sees the dividend increasing from $1 per share to $2.80, which represents a 60% payout ratio and 6% yield. The firm's FY11 EPS is 24 cents above the $4.07 consensus on robust EPS and sales growth.
Valuation at 10-11x 2011 EPS is cheap compared to a historical average of 12.5x.... Read more
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