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UPDATE: Credit Suisse Upgrades Hillshire Brands to Outperform, Raises PT

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In a report published Wednesday, Credit Suisse Group upgraded its rating on Hillshire Brands (NYSE: HSH) from Neutral to Outperform, and raised its price target from $28.90 to $31.00.

Credit Suisse noted, “We conservatively forecast 1-2% volume growth per year over the next three years and outsized earnings growth beginning in FY 14 due to the high degree of operating leverage in Hillshire's cost structure and the slack capacity in the manufacturing platform. New management is investing in R&D and marketing to untap the latent power of market-leading brands like Jimmy Dean, Hillshire, Ball Park, and Aidells that have plenty of room to stretch.”

Hillshire Brands closed on Tuesday at $26.57.

Latest Ratings for HSH

DateFirmActionFromTo
Jun 2014Wells FargoDowngradesOutperformMarket Perform
May 2014BernsteinDowngradesOutperformMarket Perform
May 2014BMO CapitalDowngradesOutperformMarket Perform

View More Analyst Ratings for HSH
View the Latest Analyst Ratings

Posted-In: Credit Suisse GroupAnalyst Color Upgrades Analyst Ratings

 

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