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Fly News Breaks for August 22, 2016
HRL
Aug 22, 2016 | 06:56 EDT
Credit Suisse analyst Robert Moskow upgraded Hormel Foods to Outperform and raised its price target to $43 from $38 saying it has a clear path to volume growth over the next 12 months. The analyst said Hormel will benefit from another year of depressed input costs and has yet to see any material signs of pricing weakness or supply guts. Further, the company continues to shift its mix to premium value add niche products with "stickier" pricing and sees plenty of room for more positive ratings revisions.
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