UPDATE: Deutsche Bank Color On CAG Target Increase

Deutsche Bank, which

on shares of ConAgra Foods, Inc.

, is providing some color on the stock. “It is unclear whether ConAgra succeeds in its takeover of Ralcorp Holdings Inc.

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.