UPDATE: Deutsche Bank Lowers PT on Dean Foods on Reasons for Caution

In a report published Wednesday, Deutsche Bank analyst Eric Katzman reiterated a Buy rating on

, but lowered the price target from $26.00 to $25.00. In the report, Deutsche Bank noted, “While our neutral view on the group proved too cautious in 1H13, the tides have shifted and such a cautious approach seems more reasonable of late. Volumes have been surprisingly weak in developed markets with emerging markets slowing a bit. Valuation is still at a premium to the market and with the added concerns around deflation, being highly selective seems critical for the rest of 2013 and into 2014.” Dean Foods Co. closed on Tuesday at $19.20.