Deutsche Bank Maintains Hold on Flowers Foods

Deutsche Bank is out with its report today on Flowers Foods FLO, maintaining Hold. In a note to clients, Deutsche Bank writes, "Although we believe in the logic behind the recent Tasty Baking acquisition and Flowers' more aggressive LT approach to M&A in the consolidating baked goods category, we note the stock has appreciated significantly, valuation multiples have expanded and near term fundamentals remain difficult." Deutsche Bank maintains a $20 PT on FLO. Shares of FLO closed Monday at $21.74, up 0.25% from Friday's close.