BofA Merrill Lynch analyst Peter Galbo upgraded Sanderson Farms (SAFM) to Buy from Underperform with a price target of $180, up from $133. Multiple press reports are indicating that China's customs agency has lifted restrictions on the import of U.S. poultry, effective immediately, which is a result of protein shortage in the country due to African Swine Fever and outside of the Phase 1 trade deal, Galbo noted. While he expects all U.S. chicken processors - including Tyson Foods (TSN) and Pilgrim's Pride (PPC) - to benefit, he sees the most incremental benefit to Sanderson as the company now will be able to ship chicken feet/paws and wing tips to China, where it has not shipped since 2015.