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Fly News Breaks for May 3, 2019
PPC
May 3, 2019 | 09:35 EDT
BMO Capital analyst Kenneth Zaslow raised his price target on Pilgrim's Pride to $31 after its in-line Q1 earnings driven by a "favorable" tax rate and lower interest rate, while its operating performance was worse than expected on high feed costs and softer Mexican chicken demand. The analyst believes that the company's earnings power will be magnified by its "unique" strategy and internal operational improvements over the next two years, but also sees the valuation on the stock as appropriate.
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