Nomad Foods Ltd (NYSE:NOMD) is considered one of the best FMCG stocks to invest in. BTIG reiterated a ‘Buy’ rating on the stock but lowered the price target to $18 from $20 due to concerns about market-specific headwinds in Europe. The company owns popular frozen food brands like Birds Eye and Findus.

BTIG also reduced sales and earnings estimates for NOMD, anticipating challenges from market dynamics. Despite this, the research firm believes the stock is undervalued with potential for medium-term cash flow growth. Nomad Foods exceeded earnings expectations in the second quarter, reporting $0.40 per share.

Nomad Foods Ltd is Europe’s largest frozen food company, producing and distributing iconic brands like Birds Eye and igloo. While NOMD offers investment potential, some believe AI stocks may offer greater returns with lower risk. For more insights on undervalued AI stocks, check out the free report on the best short-term AI stock.

If you’re interested in exploring other investment opportunities, consider the 13 Best Cryptocurrency Stocks to Buy According to Wall Street Analysts and the 9 Best Lidar Stocks to Buy Right Now. Disclosure: None. This article was originally published on Insider Monkey.

Read more at Yahoo Finance: BTIG Asserts ‘Buy’ Stance on Nomad Foods Ltd (NOMD) Despite Price Target Cut