UPDATE: Stifel Nicolaus Raises PT on Hansel Natural to $71

Stifel Nicolaus is out with its report today on Hansen Natural HANS, raising its PT to $71. In a note to clients, Stifel Nicolaus writes, "We maintain our Buy rating and lift our 12-month target price from $67 to $71 per share, 11.2x estimated 2012 EBITDA or 19.5x our 2012 EPS estimate, excluding $6.70 in cash per share. We believe the premium valuation is warranted given what we view as strong sales growth, especially compared to consumer peers, robust free cash flow generation, and pristine balance sheet. Notably, our target price reflects Hansen's ongoing operations and does not take into account that Hansen is an attractive acquisition candidate, in our view." Shares of HANS closed Thursday at $68.94.