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Fly News Breaks for August 2, 2019
PPC
Aug 2, 2019 | 05:08 EDT
Mizuho analyst Jeremy Scott raised his price target for Pilgrim's Pride to $34 from $30 citing the company's "solid" Q2 results. U.S. chicken margins of 9.8% were the highlight, well above estimates despite softer retail demand and rising feed costs, Scott tells investors in a research note. He expects a breast meat price recovery led by demand at foodservice and maintains a Buy rating on Pilgrim's Pride shares.
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