Goldman cuts Dean Foods to neutral on costs
7/13/12 9:28 AM ET (MarketWatch)
NEW YORK (MarketWatch) -- Goldman Sachs analysts on Friday cut their rating on Dean Foods Co. to neutral and removed it from its Americas buy list. Analysts noted the company's shares have been under pressure on concerns over higher corn prices driving up milk costs. "We now see increased risk of steeper dairy inflation driving downside earnings per share," Goldman analysts said. "Diary farmer income over feed costs is already at trough levels and we see risk of a reduction in cow herds reducing milk supply and driving milk prices higher."