UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on TreeHouse Foods
In a report published Wednesday, Jefferies & Company reiterated its Hold rating on TreeHouse Foods (NYSE: THS), and slightly raised its price target from $55.00 to $56.00.
Jefferies noted, “THS missed 3Q12 adj. EPS expectations & lowered the top end of its FY12 guidance by 5¢. Nonetheless mgmt. was bullish for the remainder of the yr & the longer term outlook due to the introduction of private label single serve coffee, timing issues in 3Q12 & apparently a more optimistic M&A outlook. We remain cautious for now due to the declined predictability of THS' business & current lack of visibility for coffee.”
TreeHouse Foods closed on Tuesday at $53.15.
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