Mizuho analyst Jeremy Scott upgraded Sanderson Farms to Buy and raised his price target for the shares to $130 from $101. The future for the protein produces "has become notably brighter in the last three months," Scott tells investors in a research note. The analyst says that while the December/January quarter will be among the worst in the chicken market in the last five years, he believes "the bottom is in." He expects feature rotation, stronger overall protein exports, and a shallower than expected ramp in new chicken capacity to drive a "substantial improvement" in U.S. chicken margins over the next 12 months.