Alberto-Culver upgraded to "buy"

03/04/09 - Caris & Company

NEW YORK, March 4 (newratings.com) - Analysts at Caris & Company upgrade Alberto-Culver Co (ACV) from "above average" to "buy." The target price is set to $30.

In a research note published this morning, the analysts mention that the company’s FY09 EPS is expected to grow by 11%, despite the tough economic situation. Alberto-Culver is expected to witness robust growth going forward, driven by the newly launched Tresemme and Nexxus products and their international expansion, the analysts add. Rising commodity costs could pressurize the company’s gross margins in the current year, Caris & Co says.