BB&T Capital Raises PT on Flowers Foods to $28.50 (FLO)

BB&T Capital is out with its report today on Flowers Foods

, raising its PT from $28 to $28.50. In a note to clients, BB&T Capital writes, "FLO hosted an analyst day Tuesday, at which it provided further insight and detail into its longer-term growth strategy, which is based upon a renewed focus on DSD territory expansion, potential bolt-on acquisitions, as well as continuing to drive best-in-class production processes. After two relatively difficult years, FLO has its eye on double-digit earnings growth once again. It affirmed its growth targets for 2011. We have a Buy (1) rating on FLO and 12-month price target of $28.50 (from $28)." At the time of posting, shares of FLO were trading at $26.48, down 0.08% from Thursday's close.