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Fly News Breaks for February 24, 2017
HRL
Feb 24, 2017 | 07:31 EDT
Credit Suisse analyst Robert Moskow looks at the selloff in Hormel Foods' stock following Q1 earnings as a "compelling entry point" for investors with a 9-18 month outlook. While the analyst understands the negative reaction to management's guidance reduction for fiscal 2017, he thinks the market "overreacted" to fears that the cyclical downturn in the turkey industry indicates a broader risk to earnings growth for the company going forward. Moskow reiterates an Outperform rating and $41 price target on the shares.
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