UPDATE: Jefferies Reiterates Hold Rating, Raises PT on TreeHouse Foods Following Strong Earnings Beat

In a report published Friday, Jefferies analyst Thilo Wrede reiterated a Hold rating on TreeHouse Foods THS, and raised the price target from $65.00 to $72.00. In the report, Jefferies noted, “THS' earnings beat expectations and the co. announced the first meaningful acquisition since ST Specialty. Even though the underlying business appears to be slowing (a recurring theme this earnings season), the company remains upbeat on the outlook for the rest of the year and increased its guidance due to good cost control. With the pending acquisition of Associated Brands, THS intends to expand its positioning in hot beverages.” TreeHouse Foods closed on Thursday at $72.93.