UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on ConAgra Foods on Mixed Factors

In a report published Friday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on ConAgra Foods CAG, and raised the price target from $33.00 to $35.00. In the report, Deutsche Bank noted, “Retain HOLD Opinion. We admit to being marginally more optimistic about ConAgra's prospects with effective promotion helping its brands and signs private label operations are stabilizing. As noted in past reports we worry over relatively high leverage (4.2x net debt/EBITDA) and competitors' reaction, but a solid dividend yield (3%) and low valuation (25%+ discount to group C2014 P/E) is supportive in the low to mid $30s.” ConAgra Foods closed on Thursday at $33.47.