Deutsche Bank Reiterates Buy, Raises PT On Pinnacle Foods Following Management Meeting

In a report published Monday, Deutsche Bank analyst Eric Katzman reiterated a Buy rating and Pinnacle Foods Inc. (NYSE: PF), and raised the price target from $39.00 to $42.00.

In the report, Deutsche Bank noted, "We recently hosted Pinnacle mgmt for investor meetings and reaffirm it as our Top Pick based on share gains, productivity, strong mgmt team, solid execution vs. reasonable goals, and accretive M&A potential. Although there is relatively high leverage (4.2x), we see 2015E FCF valuation (8% yield vs. 4% group) as attractive."

Pinnacle Foods closed on Friday at $39.02.