UPDATE: Stifel Upgrades TreeHouse Foods As Pullback Creates Opportunity - Treehouse Foods (NYSE:THS)

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In a report published Wednesday, Stifel analyst Christopher Growe upgraded the rating on

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TreeHouse Foods Inc.

(NYSE: THS) from Hold to Buy, and named a $90.00 price target.In the report, Stifel noted, “We are upgrading TreeHouse to Buy from Hold and establishing a $90 target price for the shares. The pullback in the shares since its third quarter earnings report last week has created an opportunity, in our view, for investors to buy TreeHouse at a discounted multiple – 10x on a FY15E EV/EBITDA basis. We derive our target price by assigning an 11X EV/EBITDA multiple to our FY15E estimate. This multiple is in line with domestic packaged food peers for a business capable of faster growth.”TreeHouse Foods closed on Tuesday at $81.16.