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HRL

Hormel Foods

$34.91

-0.67 (-1.88%)

15:07
11/21/16
11/21
15:07
11/21/16
15:07

Hormel Foods technical notes before earnings news

The $35 level is the key one to watch ahead of earnings. On a long-term chart the $35 area has been strong support since November 2015. If the $35 level were broken on the downside on negative news, it would signal a major topping process was underway which would be a strong technical negative for future price. Support levels below $35 to watch as potential downside objectives are at $33.70 which is the 52-week low, $32.92, $30.50, and $29.26. If the news is instead a positive surprise, there could be a substantial rally off of support. Next resistance levels to watch as potential upside objectives would be at $36.41, $37.92, and the $40 area.

  • 22

    Nov

  • 28

    Nov

HRL Hormel Foods
$34.91

-0.67 (-1.88%)

09/15/16
OPCO
09/15/16
INITIATION
Target $38
OPCO
Perform
Hormel Foods initiated with a Perform at Oppenheimer
Oppenheimer analyst Rupesh Parikh initiated Hormel Foods with a Perform rating and $38 price target.
09/16/16
EDJN
09/16/16
UPGRADE
EDJN
Buy
Hormel Foods upgraded to Buy from Hold at Edward Jones
09/16/16
09/16/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Wal-Mart (WMT) coverage assumed with an Outperform from Neutral at Credit Suisse with analyst Edward Kelly saying he is encouraged by Wal-Mart's return to traffic growth against a deteriorating staples retail environment and its aggressive U.S. investments to solidify its position in an evolving industry. 2. Clorox (CLX) upgraded to Overweight from Neutral at Atlantic Equities. 3. Comerica (CMA) upgraded to Conviction Buy from Neutral at Goldman with analyst Ryan Nash saying he sees upside to Comerica's current recently announced strategic plan to improve pre-tax returns by $230M. 4. Hormel Foods (HRL) upgraded to Buy from Hold at Edward Jones. 5. Micron (MU) upgraded to Buy from Neutral at Cleveland Research with analyst Kevin Rottinghaus saying Micron's execution has improved and progress in DRAM and NAND fundamentals over the past 2-3 months is sustainable into 2017. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/27/16
FBCO
09/27/16
NO CHANGE
Target $43
FBCO
Outperform
Hormel Foods added to US Focus List at Credit Suisse
Credit Suisse added Hormel Foods (HRL) to the US Focus List, replacing Kellogg (K). The firm Investment Policy Committee said analyst Rob Moskow's FY17 above consensus estimate reflects his view that the Street underestimates earnings momentum, is best positioned to capitalize on increased demand for convenient protein products and deflationary meat cost trends, higher margins from its mix to value-added products, and high short interest that will dissipate. Moskow rates Hormel an Outperform with a $43 price target.

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