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Fly News Breaks for October 2, 2015
THS
Oct 2, 2015 | 07:39 EDT
As previously reported, BofA/Merrill upgraded TreeHouse to Buy from Neutral and increased its price target to $88 from $84. Analyst Evan Morris believes estimates are near a bottom and does not believe there will be another significant guidance revision down. Morris said the recent pullback in shares and improving 2016 fundamentals indicate risk/reward is compelling. Additionally, the analyst believes a potential acquisition of ConAgra's private label business would be highly accretive to earnings and provide upside to its new $88 price target.
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