SunTrust Robinson Humphrey Initiates TreeHouse Foods (THS) with a Buy
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SunTrust Robinson Humphrey initiates coverage on TreeHouse Foods (NYSE: THS) with a Buy rating and a $35 price target.
The firm believes that the private label will continue to grow faster than branded products due to increased retailer focus on the segment and improved product offerings. In the medium term, the firm expects "the segment to be boosted by rampant food inflation and the current U.S. economic slowdown."
In addition, the SunTrust Robinson Humphrey said, "With a leadership position in 15 private label categories, we believe the company is uniquely positioned to: 1) ride the growth of the private label food industry; 2) gain market share through its good, better, best offerings; 3) benefit from the growing popularity of organic foods; 4) expand into tangential categories; and 5) lead industry consolidation with targeted acquisitions."
TreeHouse Foods, Inc. (TreeHouse) is a food manufacturer servicing primarily the retail grocery and foodservice channels.
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