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Fly News Breaks for May 11, 2015
CALM
May 11, 2015 | 10:34 EDT
Sidoti raised Buy rated Cal-Maine Foods' price target to $67 from $51 and increased estimates to reflect egg pricing power. The firm said avian influenza has resulted in nearly 28M layers being quarantined, which will take 20 to 24 months to repopulate. Sidoti views this as an opportunity for Cal-Maine to enhance its higher-margin, egg breaking operation and raised its 2016 EPS estimate to $2 from $1.09 and 2017 EPS to $1.75 from $1.05.
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