UPDATE: Deutsche Bank Raises Target on Heinz to $58

Deutsche Bank raises its price target on Buy-rated Heinz

to $58 from $56 to reflect the company's strategic diversification in emerging markets. Deutsche Bank says, "Although Heinz is feeling pressure from developed market food dynamics, we nevertheless stick with our BUY opinion. While Heinz's diversified and rapidly growing emerging markets limit consolidated margins, we see LT EPS power (along with 3-4% div.yield) as sufficient to justify our positive view." HNZ closed at $49.82 yesterday.