UPDATE: Deutsche Bank Color On CAG Target Increase

Deutsche Bank, which raised its PT on shares of ConAgra Foods, Inc. CAG, is providing some color on the stock. “It is unclear whether ConAgra succeeds in its takeover of Ralcorp Holdings Inc. RAH and at what price, but our view is that risk / reward skews more favorable,” Deutsche Bank writes. “Hence we increase our SOTP based target to $28, seeing possible significant EPS accretion and cost synergies although leverage and a number of strategic questions remain.” ConAgra Foods closed Wednesday at $25.51.