J.P. Morgan Reiterates Dean Foods Neutral, Lowers PT

J.P. Morgan reiterated its Dean Foods (NYSE: DF) Neutral rating, and lowered its Dean Foods price target from $13 to $11 in a research report published today.

In the report, J.P. Morgan states, "Given the heavy selling in DF shares of late, we are tempted to become more positive in the short term. However, the increasing risks in 2H11 and into 2012, particularly on fluid milk volumes, leave us concerned. The wild card, as always, will be Dean's ability to deliver cost savings rapidly."

Shares of Dean Foods were trading at $9.19 at the time of posting, down 11.07% from Wednesday's market close.