UPDATE: Goldman Sachs Raises PT on Sara Lee to $22

Goldman Sachs is out with its report today on Sara Lee SLE, raising its PT from $19 to $22. In a note to clients, Goldman Sachs writes, "We are raising our 12-month sum-of-the parts blended P/E- and EV/EBITDA-based price target to $22 (ex dividend), from $19, as we roll forward our earnings base and raise our estimates. Our new price target implies 31% total return potential when including the $3 special dividend." Goldman Sachs maintains Buy on SLE. Shares of SLE closed Wednesday at $19.43, up 0.88% from Tuesday's close.