UPDATE: Credit Suisse Raises Target on Dean Foods to $11

Credit Suisse reiterates its Hold rating on Dean Foods (NYSE: DF) and raises its price target to $11 from $10 on some optimism over milk cost.

Credit Suisse notes, "CEO Engles continues to focus on FDD cost savings while trying to navigate a tough category / consumer. Some investors appear optimistic over lower fluid milk cost but we don't see that as necessarily a positive. Meanwhile, WhiteWave branded ops. are solid but internal spending should limit 1H12 results."

DF closed at $10.75 a share on Monday.