Gabelli Maintains Hold on Flowers Foods

Gabelli is out with its report today on Flowers Foods

, maintaining Hold. In a note to clients, Gabelli writes, "Flowers continues generate industry-leading sales growth and profits as the company expands into new territories, introduces new products, grows market share, while continuing to make acquisitions and repurchase shares. As a result, the company should continue to generate double-digit earnings growth, while further acquisitions may offer upside to these estimates. Nevertheless, FLO remains fairly valued at 9.9x 2011E EBITDA and 20.1x P/E. Estimated PMV of $38 per share in 2012." At the time of posting, shares of FLO were trading at $31.90, down 0.25% from Thursday's close.