NEW YORK (TheStreet) -- Shares of Pinnacle Foods  (PF)  are up by 1.36% to $47.82 in mid-afternoon trading on Tuesday, as Goldman Sachs upgraded the company's stock to "buy" from "neutral" this morning.  

The firm raised its price target to $57 from $48 for the Parsippany-Troy Hills, NJ-based packaged foods company. 

The firm believes now is a good time to buy Pinnacle Foods' stock because it has an attractive valuation, its FCF yields 7% and it has an expected EPS CAGR (compound annual growth rate) of 10% through 2018, according to the analyst note. 

"We continue to favor small cap consolidators in Food that may benefit from accretive acquisitions or become targets on their own," the firm said. 

With smarter pricing, Pinnacle Foods can achieve its 2016 expectations and exceed its 2017 expectations, Goldman said. 

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

We rate PINNACLE FOODS INC as a Buy with a ratings score of B. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, good cash flow from operations and solid stock price performance. We feel its strengths outweigh the fact that the company has had sub par growth in net income.

You can view the full analysis from the report here: PF

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