UPDATE: Deutsche Bank Initiates Hold on Snyder S Lance on Valuation
Deutsche Bank initiated its coverage on Snyder S Lance (NASDAQ: LNCE) with a Hold rating and a $24 price target.
Deutsche Bank commented, "We initiate with a Hold recommendation, primarily due to valuation. Our analysis suggests the company is fairly valued vs. a comp group of peers with similarly high near-term EPS growth. Valuation is also at an appropriate premium to the packaged food group given a focused snack portfolio and US-weighted exposure."
Snyder S Lance closed at $23.11 on Thursday.
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Tags: Deutsche Bank