KeyBanc Starts Hillshire Brands (HSH) at Hold; Expect EPS to Decline Y-o-Y in FY13

KeyBanc initiates coverage on Hillshire Brands (NYSE: HSH) with a Hold. PT $29.00.

Analyst, Akshay S. Jagdale, said, "Although we have a favorable view of the new management team and appreciate the potential long-term upside (we see an upside case EPS of over $2.00 and a potential valuation of over $40/share), we prefer to wait for a better entry point since FY13 is designated a reinvestment year (management has yet to provide FY13 guidance and quarterly pro forma financials)."

For an analyst ratings summary and ratings history on Hillshire Brands click here. For more ratings news on Hillshire Brands click here.

Shares of Hillshire Brands closed at $29.99 yesterday.

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