UPDATE 2-TreeHouse Q1 results above Street view, shares up

(Adds details, analysts' comments, updates share movement)

BANGALORE, May 8 (Reuters) - Specialty food company TreeHouse Foods Inc (THS.N: Quote, Profile, Research) reported first-quarter results above market estimates, driven by higher pricing and strong performance at its E.D. Smith brand, sending its shares up 10 percent.

"On the acquisition end, as well, THS is overdelivering relative to expectations in E.D. Smith," Lehman Brothers analyst Andrew Lazar said in a note to clients. He has an "overweight" rating on the stock.

TreeHouse produces jams, jellies and pie fillings under the E.D. Smith brand name. It acquired the Canadian jam and sauce maker E.D. Smith in October 2007.

"We are gaining a deeper appreciation of E.D. Smith given the revenue synergies it creates in Canada for core Bay Valley items like salsa and condensed soup," Credit Suisse analyst Robert Moskow said.

Moskow noted that E.D. Smith's North Coast plant is the industry's lowest-cost production facility.

TreeHouse has also realized cost synergies by integrating three far flung E.D. Smith operating units that the prior management never combined, the analyst added.

He maintained an "outperform" rating on the stock, which rose $2.24 to $24.24 in noon trade on the New York Stock Exchange. They hit a high of $24.30 earlier in the session.

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