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PPC

Pilgrim's Pride

$21.01

0.13 (0.62%)

, HRL

Hormel Foods

$37.85

0.05 (0.13%)

12:03
10/12/16
10/12
12:03
10/12/16
12:03

USDA lowers 2016 red meat and poultry production forecast

The USDA, in its latest World Agricultural Supply and Demand Estimates, or WASDE, report lowered its forecast for total red meat and poultry production for 2016 from last month as slightly higher beef and pork production is more than offset by lower broiler production. For 2017, the total red meat and poultry product forecast was raised, primarily due to higher pork production. Publicly traded companies in the meat production space include Hormel Foods (HRL), Pilgrim's Pride (PPC), Sanderson Farms (SAFM) and Tyson Foods (TSN). Reference Link

PPC

Pilgrim's Pride

$21.01

0.13 (0.62%)

HRL

Hormel Foods

$37.85

0.05 (0.13%)

SAFM

Sanderson Farms

$94.74

0.8 (0.85%)

TSN

Tyson Foods

$71.61

0.23 (0.32%)

  • 27

    Oct

PPC Pilgrim's Pride
$21.01

0.13 (0.62%)

05/25/16
05/25/16
DOWNGRADE

Hold
Pilgrim's Pride downgraded on valuation at BB&T
As noted earlier, BB&T downgraded Pilgrim's Pride to Hold from Buy. The firm downgraded the stock based on valuation.
06/09/16
CLVD
06/09/16
NO CHANGE
CLVD
Pilgrim's Pride estimates lowered below consensus at Cleveland Research
Cleveland Research analyst Mike Piken lowered Pilgrim's Price estimates to reflect the volume impact of the shutdown of the Prepared Foods plant in Texas and to reflect the impact of potentially higher 2HF16 feed costs. Piken's Q2 earnings estimate goes to 60c, below consensus of 69c, and FY16 is lowered to $2.17, versus consensus of $2.11. The analyst has a Neutral rating on Pilgrim's Pride shares.
06/06/16
BMOC
06/06/16
DOWNGRADE
BMOC
Market Perform
Pilgrim's Pride downgraded on valuation, costs at BMO Capital
As noted earlier, BMO Capital downgraded Pilgrim's Pride to Market Perform from Outperform. The firm downgraded the stock based on valuation and rising feed costs. Target to $27 from $29.
06/06/16
BMOC
06/06/16
DOWNGRADE
BMOC
Market Perform
Pilgrim's Pride downgraded to Market Perform from Outperform at BMO Capital
HRL Hormel Foods
$37.85

0.05 (0.13%)

09/16/16
09/16/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Wal-Mart (WMT) coverage assumed with an Outperform from Neutral at Credit Suisse with analyst Edward Kelly saying he is encouraged by Wal-Mart's return to traffic growth against a deteriorating staples retail environment and its aggressive U.S. investments to solidify its position in an evolving industry. 2. Clorox (CLX) upgraded to Overweight from Neutral at Atlantic Equities. 3. Comerica (CMA) upgraded to Conviction Buy from Neutral at Goldman with analyst Ryan Nash saying he sees upside to Comerica's current recently announced strategic plan to improve pre-tax returns by $230M. 4. Hormel Foods (HRL) upgraded to Buy from Hold at Edward Jones. 5. Micron (MU) upgraded to Buy from Neutral at Cleveland Research with analyst Kevin Rottinghaus saying Micron's execution has improved and progress in DRAM and NAND fundamentals over the past 2-3 months is sustainable into 2017. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/27/16
FBCO
09/27/16
NO CHANGE
Target $43
FBCO
Outperform
Hormel Foods added to US Focus List at Credit Suisse
Credit Suisse added Hormel Foods (HRL) to the US Focus List, replacing Kellogg (K). The firm Investment Policy Committee said analyst Rob Moskow's FY17 above consensus estimate reflects his view that the Street underestimates earnings momentum, is best positioned to capitalize on increased demand for convenient protein products and deflationary meat cost trends, higher margins from its mix to value-added products, and high short interest that will dissipate. Moskow rates Hormel an Outperform with a $43 price target.
09/15/16
OPCO
09/15/16
INITIATION
Target $38
OPCO
Perform
Hormel Foods initiated with a Perform at Oppenheimer
Oppenheimer analyst Rupesh Parikh initiated Hormel Foods with a Perform rating and $38 price target.
09/16/16
EDJN
09/16/16
UPGRADE
EDJN
Buy
Hormel Foods upgraded to Buy from Hold at Edward Jones
SAFM Sanderson Farms
$94.74

0.8 (0.85%)

05/27/16
05/27/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Palo Alto Networks (PANW) downgraded to Hold at Deutsche Bank by analyst Karl Keirstead, who said the beat in Q3 was just 2% and back-end loaded. The company was also downgraded to Hold at Needham. 2. Monsanto (MON) downgraded to Neutral at Atlantic Equities with analyst Colin Isaac saying that while Bayer is likely to raise its $122 per share offer, it is far from certain that a mutually acceptable valuation will be agreed upon. 3. Sanderson Farms (SAFM) downgraded to Neutral at JPMorgan by analyst Ken Goldman, who is increasingly concerned about the potential impact of La Nina on feed costs. 4. Workday (WDAY) downgraded to Underperform at Wedbush with analyst Steve Koenig saying his Q1 checks indicate softer implementation pipelines due to macro and competitive factors, and Oracle's (ORCL) aggressive discounting. 5. EMC (EMC) downgraded to Neutral from Buy at Longbow. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/07/16
JEFF
06/07/16
NO CHANGE
Target $70
JEFF
Buy
Jefferies recommends Tyson Foods following recent selloff
Jefferies analyst Akshay Jagdale attributes the recent selloff in protein stocks to the recent rally in grain prices and decline in pork margins. The analyst recommends buying shares of Tyson Foods (TSN) but continues to see "significant further potential downside" in Sanderson Farms (SAFM). Jagdale lowered his price target for Tyson to $70 and keeps a Buy rating on the name. He keeps a Hold rating on Hormel Foods (HRL) with a reduced price target of $34 and Underperform rating on Sanderson with a price target of $60.
08/18/16
LYON
08/18/16
UPGRADE
Target $113
LYON
Buy
Sanderson Farms upgraded to Buy from Outperform at CLSA
CLSA analyst Jeremy Scott upgraded Sanderson Farms to Buy saying the outlook for chicken margins has improved with U.S. corn and soybean crops set to break records on ideal growing conditions. The analyst raised his price target for the shares to $113 from $107.
10/05/16
DADA
10/05/16
INITIATION
Target $103
DADA
Neutral
Sanderson Farms initiated with a Neutral at DA Davidson
DA Davidson analyst Eric Gottlieb initiated Sanderson Farms with a Neutral and a $103 price target siting valuation.
TSN Tyson Foods
$71.61

0.23 (0.32%)

10/11/16
10/11/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Twitter (TWTR) upgraded to Hold from Sell at Evercore ISI with analyst Ken Sena citing the recent pullback in the shares. 2. Tyson Foods (TSN) upgraded to Outperform from Market Perform at BMO Capital with analyst Kenneth Zaslow saying he thinks that the company's "strong underlying fundamentals" should enable its fiscal 2017 profits to beat expectations, and he says that the shares are undervalued. 3. Virgin America (VA) upgraded to Neutral from Underweight at JPMorgan with analyst Jamie Baker saying regulatory approval of the pending Alaska Air (ALK) takeover "remains more likely than not." 4. Cummins (CMI) was upgraded to Conviction Buy from Neutral and Caterpillar (CAT) was upgraded to Buy from Neutral at Goldman. 5. Carbonite (CARB) upgraded to Outperform from Perform at Oppenheimer with analyst Brian Schwartz saying he sees "substantial upside" from current levels due to valuation and fundamentals. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/11/16
BMOC
10/11/16
UPGRADE
BMOC
Outperform
Tyson Foods upgraded on fundamentals, valuation at BMO Capital
As noted earlier, BMO Capital analyst Kenneth Zaslow upgraded Tyson Foods to Outperform from Market Perform. The analyst thinks that the company's "strong underlying fundamentals" should enable its fiscal 2017 profits to beat expectations, and he says that the shares are undervalued. Moreover, the analyst expects the company to deliver "sustainable growth" in fiscal 2018, and he thinks that the impact of the class action lawsuit against it will probably be "limited." Target to $84 from $77.
10/11/16
BMOC
10/11/16
UPGRADE
BMOC
Outperform
Tyson Foods upgraded to Outperform from Market Perform at BMO Capital
10/10/16
JPMS
10/10/16
NO CHANGE
JPMS
Neutral
Tyson Foods selloff Friday a buying opportunity, says JPMorgan
JPMorgan analyst Ken Goldman recommends using Friday's weakness in shares of Tyson Foods as a buying opportunity. The complaint filed against chicken producers last month appears to have insufficient evidence at this time, Goldman tells investors in a research note. He expects Tyson to report "very strong" results over the next "quarter or two" and keeps the Neutral-rated shares on his firm's Focus List.

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