UPDATE: KeyBanc Capital Markets Reiterates Buy Rating, Raises PT on Dean Foods Co. on Increased Confidence

In a report published Thursday, KeyBanc Capital Markets analyst Akshay S. Jagdale reiterated a Buy rating on Dean Foods Co. DF, and raised the price target from $18.00 to $22.00. In the report, KeyBanc Capital Markets noted, “We reiterate our BUY rating on DF and raise our PT from $18 to $22 as we are incrementally confident DF should benefit NT from lower raw milk prices following our KBCM hosted conference call w/ commodities expert Shawn Hackett. Add'ly, we continue to believe DF has a significant L-T opp'ty to unlock value from the Co.'s distribution network and maintain that the Co. represents an attractive takeout candidate.” Dean Foods Co. closed on Wednesday at $17.36.