Cott's Equity Offering: Concerns Not Realized - trackseekingalpha

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Cott's Equity Offering: Concerns Not Realized
Sep 10, 2009 08:56 AM UTC

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Via Long Investment Ideas from Seeking Alpha:

Cott Corp. (COT), one of the world's largest soft drink makers, recently completed an equity offering of US$50-million, enough for UBS to raise its rating on the company.

Kaumil Gajrawala, analyst with UBS, first downgraded Cott to Neutral despite improving underlying trends in its second quarter earnings on concerns the equity offering would put pressure on shares. However, he has since changed his mind after the company's shares pulled back about 25%.

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