UPDATE: Deutsche Bank Raises PT on The Hershey Company to $51 (HSY)

Deutsche Bank is out with its report today on The Hershey Company

, raising its PT from $49 to $51. In a note to clients, Deutsche Bank writes, "Our new $51 target (up from $49) is based on DCF model: 4% sales, 5% EBIT and 7-8% EPS/cash flow growth using a 9% WACC (derived via the CAPM: 0.8 beta, 4.5% risk free rate, 6% equity risk premium)." Deutsche Bank maintains Hold on HSY. Shares of HSY closed Tuesday at $57.27.