TreeHouse initiated with a Buy at UBS

UBS analyst Cody Ross initiated coverage of TreeHouse Foods with a Buy rating and $60 price target. The analyst believes the company is in the early innings of a "beat and raise cycle" as it stands to benefit from several strategic initiatives and secular tailwinds. These include investments to improve service levels and the sale of a significant portion of its Meal Prep business to reduce complexity, the analyst tells investors in a research note.