Deutsche Bank Upgrades Flowers Foods (FLO) to Buy

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Deutsche Bank upgraded Flowers Foods (NYSE: FLO) from Hold to Buy with a price target of $27.00 (from $21.00).

The firm comments, "Based on a LT thesis, we are upgrading Flowers' shares to BUY from HOLD due to consolidation and likely benefit to profitability. We are raising Flowers' EPS est. to reflect both near term share gains (i.e. Hostess liquidation) as well as fresh bread category consolidation and raising our target to $27 from $21."

For an analyst ratings summary and ratings history on Flowers Foods click here. For more ratings news on Flowers Foods click here.

Shares of Flowers Foods closed at $25.05 yesterday, with a 52 week range of $18.39-$25.10.

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