UPDATE: SunTrust Upgrades TreeHouse Foods (THS) to Buy

(updated to add price target and analyst comment)

SunTrust analyst William Chappell Jr. upgraded TreeHouse Foods (NYSE: THS) from Hold to Buy, pric etarget $70.00 (from $55.00).

The analyst comments "Our change in recommendation is based on 1) a more favorable backdrop for packaged food than we have seen in years, 2) the strong upside potential to THS top and bottom line forecast as the new CEO enters his second year on the job and, 3) the still attractive valuation vs. the peer group and historical range."

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

Shares of TreeHouse Foods closed at $61.34 yesterday.

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